Second-Quarter U.S. Manufacturing Productivity Lowered

Sept. 7, 2005
After a second look at the data, the U.S. Labor Department on September 7 revised downward productivity growth in U.S. manufacturing during the second calendar quarter of this year. The department now says manufacturing productivity grew at a ...

After a second look at the data, the U.S. Labor Department on September 7 revised downward productivity growth in U.S. manufacturing during the second calendar quarter of this year.

The department now says manufacturing productivity grew at a seasonally adjusted annual rate of 3.6% from April through June, down from its initial figure of 4.1%. Growth in the output of the factory sector during the second quarter was less than first figured and the decrease of hours worked was not as large as originally estimated.

However, even at its revised rate, productivity in manufacturing grew at twice the 1.8% revised rate for the larger non-farm business sector of the U.S. economy during the second quarter. Productivity growth for non-farm businesses was originally thought to be 2.2%.

The Labor Department defines productivity as output per working hour.

With hourly compensation higher than first thought, unit labor costs in manufacturing during the second quarter increased 4.7%, up from both the 2.3% initial estimate for the quarter and a 2.8% increase in the first quarter of 2005.

Popular Sponsored Recommendations

Gain a competitive edge with real-world lessons on private 5G networks

Nov. 16, 2023
The use of private networks in manufacturing applications is rapidly growing. In this paper, we present valuable insights and lessons learned from the field with the goal of enhancing...

Discrete and Process Manufacturing 2024 Trends and Outlook for North America

Oct. 29, 2023
Manufacturers are reaping the benefits of automation and cloud-based solutions. Discover what is driving today's industry trends and how they can shape your growth priorities ...

Digitally Transforming Data and Processes With Product Lifecycle Management

Oct. 29, 2023
Manufacturers face increasing challenges in product development as they strive to consistently deliver improved results. Discover how industry leaders are improving time-to-market...

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!