Labor productivity revised to 0.0 percent in 4Q 2017, up 1.1 percent year-on-year

Nonfarm business sector labor productivity growth was revised to 0.0 percent in the fourth quarter of 2017, as output increased 3.2 percent and hours worked increased 3.3 percent. From the fourth quarter of 2016 to the fourth quarter of 2017, productivity increased 1.1 percent, reflecting a 3.2-percent increase in output and a 2.1-percent increase in hours worked. Annual average productivity increased 1.2 percent from 2016 to 2017.

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3Q 2017 productivity grew at 4.1 percent, highest rate since 3Q 2014

Nonfarm business sector labor productivity increased 3.0 percent during the third quarter of 2017, as output increased 4.1 percent and hours worked increased 1.1 percent. The productivity increase was the largest since the third quarter of 2014, when output per hour increased 4.4 percent. From the third quarter of 2016 to the third quarter of 2017, productivity increased 1.5 percent, reflecting a 3.0-percent increase in output and a 1.5-percent increase in hours worked.

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BuilderBytes' MetroIntelligence Economic Update for 6/5/15

Please click here to see the edition of BuilderBytes for 6/5/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Planned job cuts fell sharply in May but YTD totals still higher than in 2014
• Initial unemployment claims fell by 8,000 in latest report
• Productivity fell 3.1 percent in the first quarter of 2015, mostly flat year-over-year
• Mortgage applications dip 7.6 percent in latest survey even as rates slide 

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