(Finance) – In 3rd quarter of 2022 there productivity of the non-agricultural sector in the USA it increased on a quarterly basis by 0.3%, after -4.1% in the previous three months, compared with the + 0.6% expected by analysts. Production increased by 2.8% and hours worked increased by 2.4%.
Compared to the same quarter of 2021, productivity was down 1.4%, reflecting a 1.9% increase in production and a 3.4% increase in hours worked. The 1.4% decline over four quarters is the first case of three consecutive declines in this measure since 1982.
According to the American Bureau of Labor Statistics (BLS), the cost per unit of work it grew by 3.5% after + 8.9% in the 2nd quarter (revised figure from + 10.2%) and against the + 4.1% of the consensus. The growth reflects a 3.8% increase in hourly compensation and a 0.3% increase in productivity.