Nonfarm labor productivity in the US rose by an annualized 5.4 percent in the first quarter of 2021, recovering from a downwardly revised 3.8 percent fall in the previous period and above market expectations of a 4.3 percent increase, preliminary estimates showed. Output increased 8.4 percent and hours worked increased 2.9 percent. Year-on-year, nonfarm business sector labor productivity increased 4.1 percent, reflecting a 1.1 percent increase in output and a 2.9 percent decline in hours worked. source: U.S. Bureau of Labor Statistics
Productivity in the United States averaged 62.02 points from 1950 until 2021, reaching an all time high of 112.73 points in the first quarter of 2021 and a record low of 25.99 points in the first quarter of 1950. This page provides - United States Productivity - actual values, historical data, forecast, chart, statistics, economic calendar and news. United States Nonfarm Labour Productivity - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Productivity in the United States is expected to be 110.60 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Productivity in the United States to stand at 111.00 in 12 months time. In the long-term, the United States Nonfarm Labour Productivity is projected to trend around 111.00 points in 2022 and 112.00 points in 2023, according to our econometric models.