Q4 labor productivity increased
Nonfarm business sector labor productivity increased at a 0.9 percent annual rate during the fourth quarter of 2011, the U.S. Bureau of Labor Statistics reported today.
The gain in productivity reflects increases of 3.7 percent in output and 2.7 percent in hours worked. From the fourth quarter of 2010 to the fourth quarter of 2011, productivity grew 0.3 percent, as output rose 2.3 percent and hours rose 1.9 percent.
Manufacturing sector productivity edged down 0.1 percent in the fourth quarter of 2011, as output rose 4.8 percent and hours worked increased 4.9 percent; this is the largest quarterly gain in hours worked since the second quarter of 1996 (6.2 percent).
Over the last four quarters, manufacturing productivity increased 1.7 percent. Annual average productivity grew 2.6 percent from 2010 to 2011. Unit labor costs in manufacturing increased 2.0 percent in the fourth quarter of 2011 but were unchanged from the same quarter a year ago.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
