US worker productivity bounced back strongly in Q4, slowing down growth in unit labor costs.
- Non-farm productivity, which tracks hourly output per worker, rose at an unrevised 6.6% annualized rate in Q4 of 2021.
- Hours worked increased at an unrevised pace of 2.4% in Q4. Unit labor costs also rose at a 0.9% pace compared to the initially projected 0.3% pace.
- In Q4 of 2021, output and hours worked rose for the sixth straight quarter after historic falls in those measures in Q2 of 2020.
- The non-farm business sector labor productivity index stands 4.6% higher in Q4 of 2021 than it was in Q4 of 2019.
Labor productivity in the manufacturing sector dropped 0.1% in Q4 of 2021 as output and hours worked both rose 5.8%. Manufacturing sector output stands at 2.1% above the level in Q4 of 2019.
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Source: US Bureau of Labor Statistics