Posted June 3, 2010
Manufacturing productivity rises
Manufacturing sector productivity grew 1.5 percent in the first quarter of 2010, according to newly released data from the U.S. Bureau of Labor Statistics.
Output rose 7.2 percent and hours worked increased 5.6 percent.
Gains in productivity, output, and hours were each larger in the durable goods sector than in the nondurable goods sector. Unit labor costs in manufacturing declined 1.5 percent in the first quarter of 2010 and fell 5.1 percent over the last four quarters. The four-quarter decline was the largest in the series, which begins in the first quarter of 1988.
Nonfarm business sector labor productivity increased at a 2.8 percent annual rate during the first quarter of 2010, with output rising 4.0 percent and hours rising 1.1 percent.
