Posted June 2, 2011
Manufacturing productivity up 4.2%
Manufacturing sector productivity grew 4.2 percent in the first quarter of 2011, the U.S. Bureau of Labor Statistics reported today.
Output and hours worked increased 7.7 percent and 3.3 percent, respectively. Over the last four quarters, manufacturing productivity increased 4.1 percent. Unit labor costs in manufacturing declined 1.4 percent in the first quarter of 2011 and 0.7 percent over the last four quarters.
Productivity increased 7.5 percent in the durable goods sector and 2.6 percent in the nondurable goods sector in the first quarter of 2011. In durable goods industries, a 14.0 percent jump in output outweighed a 6.1 percent increase in hours worked. Nondurable goods production rose 1.5 percent while hours fell 1.1 percent.
Nonfarm business sector labor productivity increased at a 1.8 percent annual rate during the first quarter of 2011.
