Q2 Productivity Growth Revised Down [CHARTS]

Q2 Productivity Growth Revised Down first appeared on Floating Path.

U.S. labor productivity increased at an annual rate of 2.3% during the second quarter, a downward revision from the previous estimate of a 2.5% increase, but still a sharp shift up from the revised 4.5% rate of decrease in the first quarter. Labor productivity is up 1.1% from the same period last year.

Productivity Growth

Output increased at an annual rate of 5.0% during Q2, a revision down from the prior estimate of 5.2% growth, but well above the 2.4% rate of decrease in Q1. Output is up 3.2% from the same period last year.

output

Labor hours increased at an annual rate of 2.6% during Q2, a revision down from the prior estimate of 2.7% growth, but higher than the 2.1% rate of increase in Q1. Labor hours are up 2.0% from the same period last year.

 labor hours

Hourly compensation increased at an annual rate of 2.3% during Q2, a revision down from the prior estimate of a 3.1% increase, and lower than the 6.6% rate of increase in Q1. Hourly compensation is up 2.1% from the same period last year.

compensation

Real (inflation-adjusted) hourly compensation decreased at an annual rate of 0.7% during Q2, a revision down from the prior estimate of a 0.1% increase, and down from the 4.6% rate of increase in Q1. Real hourly compensation is up 0.8% from the same period last year.

 compensation 2

Unit labor costs decreased at an annual rate of 0.1% during Q2, a revision down from the prior estimate of a 0.6% rate of increase, and well below the 11.6% rate of increase in Q1. Unit labor costs are up 1.7% from the same period last year.

labor cost

The table below shows the breakdown across sectors.

breakdown



About the Author

Floating Path
Floating Path explores economic and cultural phenomena. Floatingpath hopes to educate, inspire and provoke.