Productivity down 1.4 percent, real hourly compensation down 3.4 percent, over past year

From the third quarter of 2021 to the third quarter of 2022, nonfarm business sector labor productivity decreased 1.4 percent, reflecting a 1.9-percent increase in output and a 3.4-percent increase in hours worked. This quarter marks the first time this measure has seen three consecutive year-over-year declines since 1982. READ MORE