Productivity decreased in fourth quarter
Nonfarm business sector labor productivity decreased at a 3.0-percent annual rate during the fourth quarter of 2015, the U.S. Bureau of Labor Statistics reported today, as output increased 0.1 percent and hours worked increased 3.3 percent.
Manufacturing sector labor productivity decreased 0.4 percent in the fourth quarter of 2015, as output increased 0.5 percent and hours worked increased 0.9 percent. Productivity decreased 1.0 percent in the durable goods manufacturing sector and increased 0.3 percent in the nondurable goods sector.
In the manufacturing sector, productivity increased 1.3 percent in 2015, which is the same rate of increase as in 2014. The average annual rate of productivity growth from 2007 to 2015 is 2.1 percent, which is below the long-term rate from 1987 to 2015 of 3.4 percent.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
