Manufacturing News / Manufacturing Jobs

U.S. productivity unexpectedly posts first drop since 2015

By Bloomberg

Nov 06, 2019

Productivity in the U.S. unexpectedly posted the first decline in almost four years and labor costs accelerated, suggesting a pickup in efficiency earlier this year was more of a temporary shift.

Nonfarm business employee output per hour decreased at a 0.3% annualized rate in the third quarter, according to Labor Department figures Wednesday. 

From a year earlier, productivity rose 1.4%, down from 1.8% in the prior period. Unit labor costs were up 3.1% year-over-year -- the fastest since early 2014 -- which could be a sign that a tight job market is filtering through to what companies are spending on wages.

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