WASHINGTON — Data for fourth quarter nonfarm productivity and unit labor costs are unavailable due to the delay of GDP data from the Commerce Department. Hours worked growth, for which data are available, was up 1.6% in the fourth quarter after rising 1.7% in the third quarter, data released by the Bureau of Labor Statistics Wednesday showed.
Data on the fourth quarter's nonfarm productivity, unit labor costs, and compensation should be released in the next estimate, once GDP data from the Commerce Debarment is available.
Manufacturing productivity rose 1.3% in the fourth quarter and was revised up slightly to 1.1% in the third quarter. Output growth rose 2.3%, down from 4.2% last quarter, while hours worked rose 1.0%, down from 3.1% in the third quarter. Manufacturing unit labor costs were not reported.
Third quarter nonfarm productivity was revised down slightly to 2.2% from the previously reported 2.3%. Unit labor costs for the third quarter were unrevised from a 0.9% rise in the previous estimate.
The year/year pace of third quarter productivity growth was unrevised from 1.3% in the last estimate. Unit labor costs still stand at a 0.9% year/year pace in the third quarter.
