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PRODUCTIVITY AND COSTS BY INDUSTRY:
MANUFACTURING, MINING, AND SELECTED SERVICE-PROVIDING
INDUSTRIES, 2008
Labor productivity -- defined as output per hour -- rose in 46 percent of
the 138 detailed manufacturing,
mining, and service-providing industries studied in 2008, the U.S. Bureau of
Labor Statistics reported
today. This was down from the 62 percent that recorded productivity
increases the previous year. Unit
labor costs, which reflect the total labor costs required to produce a unit
of output, declined in 30 percent
of the industries, compared to 20 percent in 2007.
Fewer industries recorded productivity increases in 2008 than in any other
year since 1988. Output rose in
fewer industries and hours declined in more industries in 2008 compared to
2007. Output rose in 41 of the
138 industries examined, compared to 72 in 2007; hours declined in 101,
compared to 79 industries in
2007. The percent of industries with output increases declined each year
from 2005 to 2008, with the
largest drop occurring in 2008. The percent of industries with declining
hours rose each year
from 2006 to 2008, with the largest increase occurring in 2008.
Over the 1987 to 2008 period, labor productivity increased in 92 percent of
the industries. Unit labor costs
declined in 18 percent of the industries. (See table 2.) Productivity growth
rates for the industries studied
show a more negative distribution in the most recent year compared to the
longer-term period from 1987 to 2008.
http://www.bls.gov/news.release/prin.nr0.htm
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