U.S. Nonfarm Productivity Rises 7.2% in Q2

The United States nonfarm business sector labor productivity increased by 7.3% during the second quarter (Q2) of 2020, as shown by the data released by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor on Friday.

However, output decreased by 38.9% and hours worked declined by 43%.

On an annual basis, productivity increased by 2.2%, reflecting an 11.8% decrease in output and a 13.7% decrease in hours worked.

Unit labor costs in the nonfarm business sector increased at an annual rate of 12.2% in Q2 of 2020, following an increase of 9.8% in Q1.