Valve Magazine

Wed04232014

Last updateWed, 23 Apr 2014 4pm

Back You are here: Home News Industry Headlines Manufacturing & The Economy U.S. Worker Productivity Rises at Modest Pace

Manufacturing & The Economy

U.S. Worker Productivity Rises at Modest Pace

Nonfarm business sector labor productivity increased at a 1.9% annual rate during the third quarter of 2013, the U.S. Bureau of Labor Statistics reports. The increase in productivity reflects increases of 3.7% in output and 1.7% in hours worked. (All quarterly% changes in this release are seasonally adjusted annual rates.) From the third quarter of 2012 to the third quarter of 2013, productivity was unchanged as a 1.8% increase in output was matched by a 1.8% increase in hours worked.

Manufacturing sector productivity rose 0.4% in the third quarter of 2013, as output and hours worked increased 1.3% and 0.8%, respectively. Productivity increased 1.2% in the durable goods sector and decreased 0.1% in the nondurable goods sector. Over the last four quarters, manufacturing productivity increased 2.3%, as output increased 2.3% and hours edged up 0.1%. Unit labor costs in manufacturing rose 1.3% in the third quarter of 2013 and were unchanged from the same quarter a year ago. 

Sponsored Products

 

Valve Magazine Digital Edition

SPR14 CVR 160x214Inside the Spring 2014 issue…

• Tank Cars
• DBBS & DIBS
• Shale Gas
• New Globe Standard

CLICK HERE TO REQUEST YOUR
DIGITAL EDITION PREVIEW EMAIL