USA: 4.6% drop in productivity in the 2nd quarter

( – In line with expectations, non-agricultural productivity fell by 4.6% in the United States in the second quarter of 2022 at an annualized rate, according to a preliminary estimate by the Labor Department, after a plunge of 7.4 % in the previous quarter.

This new decline reflects a 2.1% drop in production even though the number of hours worked increased by 2.6%. Combined with a 5.7% increase in hourly wages, it leads to a 10.8% rise in unit labor costs.

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