Manufacturing Productivity Grew in 2nd Quarter 2006
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Manufacturing News, Source : The Manufacturer US
Published : 04 Oct 2006 16:39
ECONOMIC INDICATORS
A pretty good Q2 for manufacturers, according to the Bureau of Labor and Statistics (BLS). The BLS of the U.S. Department of Labor today measures productivity output per hour per person.
Productivity increased 2.6 percent in manufacturing for the second quarter of 2006, as output grew 5.1 percent and hours of all persons increased 2.4 percent (seasonally adjusted annual rates). In the durable goods sector, productivity grew 3.7 percent in the second quarter of 2006, reflecting increases in output and hours of 7.7 percent and 3.9 percent, respectively. In nondurable goods, output per hour rose 2.3 percent as output increased 2.1 percent and hours declined 0.2 percent (tables 3, 4, and 5).
The hourly compensation of all manufacturing workers increased 4.0 percent during the second quarter of 2006, reflecting a 4.2-percent rise in hourly compensation in durable goods industries and a 3.4-percent increase in the nondurable goods sector. Real hourly compensation in the total manufacturing sector fell 0.9 percent in the second quarter after increasing 11.0 percent one quarter earlier.
Unit labor costs in manufacturing increased 1.3 percent in the second quarter of 2006. The first-quarter 2006 increase in this measure, 9.3 percent, was the largest since the third quarter of 2000, when it increased 12.0 percent. Unit labor costs grew 0.5 percent in durable goods and 1.1 percent in nondurable goods in the second quarter of 2006.
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