“Manufacturing sector labor productivity increased 1.3 percent during the fourth quarter of 2018 as output increased 2.3 percent and hours worked increased 1.0 percent,” the U.S. Bureau of Labor Statistics reported today.
The publication noted that the headline nonfarm business productivity and all unit labor costs data were not available for the fourth quarter and annual average 2018.
Key takeaways from the press release
- From the fourth quarter of 2017 to the fourth quarter of 2018, manufacturing productivity increased 0.7 percent, reflecting a 2.8-percent increase in output and a 2.1-percent increase in hours worked.
- Durable manufacturing labor productivity increased 2.6 percent, with output increasing 5.7 percent and hours increasing 3.0 percent.
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