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The Office of Productivity and Technology (OPT) measures how efficiently the U.S. converts inputs into the outputs of goods and services. Measures of labor productivity compare the growth in output to the growth in hours worked and measures of total factor productivity (TFP), also known as multifactor productivity (MFP), compare growth in output to the growth in a combination of inputs that include labor, capital, energy, materials, and purchased services.
Labor productivity (output per hour) +3.2% in 4th Qtr of 2023
Hourly compensation +3.6%(r) in 4th Qtr of 2023
Unit labor costs +0.4%(r) in 4th Qtr of 2023
Labor productivity (output per hour) +1.3%(r) in 4th Qtr of 2023
Hourly compensation +6.7%(r) in 4th Qtr of 2023
Unit labor costs +5.3%(r) in 4th Qtr of 2023
09/12/2024
//PROD2 QCT Test 09122024// Productivity decreased 5 percent in nonfarm business sector fourth quarter 2023.
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10/04/2023
//PRIN1 QCT Resilio Sched Test 10/4/2023// Retail trade productivity increased 5.3 percent in 2019.
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09/28/2023
//QCT Resilio Test 9/28/2023//Test Labor productivity (output per hour) rose in 64 percent.
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09/28/2023
//QCT Resilio Test 09/28/2023// Labor productivity increased in 45 states and the District of Columbia in 2022.
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10/10/2023
//PRIN QCT Resilio Test 10/10/2023// Labor productivity increased in 41 of the 86 NAICS 4-digit manufacturing industries.
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09/29/2023
//PROD3 QCT Resilio Test 09/29/2023// In 2020 total factor productivity declined at a 1.7-percent annual rate.
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01/12/2024
//PROD5 QCT Sched Test 1/12/2024// In 2021, total factor productivity increased in 15 out of 21 major industries.
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09/28/2023
//QCT Resilio Test 09/28/2023// Total factor productivity fell in 61 of 86 4-digit NAICS manufacturing industries in 2019
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