Productivity decreased 4.2 percent in Q4 2020
Labor productivity decreased 4.2 percent in the fourth quarter of 2020, as output increased 5.5 percent and hours worked increased 10.1 percent.
From the fourth quarter of 2019 to the fourth quarter of 2020, nonfarm business sector labor productivity increased 2.4 percent, reflecting a 2.6-percent decline in output and a 4.9-percent decline in hours worked.
Manufacturing sector labor productivity increased 5.0 percent in the fourth quarter of 2020, as output increased 13.0 percent and hours worked increased 7.6 percent. Productivity had increased at a series high 20.7 percent annual rate in the third quarter of 2020, following a decline of 13.3 percent in the second quarter. Manufacturing productivity increased 2.8 percent from the same quarter a year ago.
Click here for details from the U.S. Bureau of Labor Statistics.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
