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Productivity rises in 49% of manufacturing and mining industries in 2015
Productivity rises in 49% of manufacturing and mining industries in 2015Economic News Release USDL-16-0699
Productivity and Costs by Industry: Manufacturing and Mining Industries, 2015
For release 10:00 a.m. (EDT) Thursday, April 7, 2016
Technical information: (202) 691-5618 • dipsweb@bls.gov • www.bls.gov/lpc
Media contact: (202) 691-5902 • PressOffice@bls.gov
PRODUCTIVITY AND COSTS BY INDUSTRY:
MANUFACTURING AND MINING INDUSTRIES, 2015
Labor productivity rose in 31 of 63 manufacturing and mining industries in 2015, the U.S. Bureau of Labor Statistics reported today. This was higher than 2014 when labor productivity rose in 26 industries. Output and hours worked increased in fewer industries in 2015 than in the previous year.
Unit labor costs rose in 43 of 59 manufacturing industries and in three of four mining industries. Twelve industries with productivity increases posted declines in unit labor costs. Increases in labor productivity mitigate the impact of rising hourly compensation on unit labor costs facing employers.
Trends in labor productivity and unit labor costs in NAICS 3-digit industries in 2015
Manufacturing
* Labor productivity increased in 9 manufacturing industries in 2015, as output increased in 12 industries and hours worked fell in seven industries.
* Productivity rose fastest in the petroleum and coal products industry, where output increased by 4.6 percent and hours worked declined 2.3 percent.
* Unit labor costs increased in 16 manufacturing industries.
* For five industries, productivity outpaced hourly compensation growth, leading to declines in unit labor costs.
Mining
* Productivity rose 11.4 percent in the oil and gas extraction industry, where output increased and hours worked declined.
* Output in mining, except oil and gas, declined at a greater pace than hours worked, resulting in a productivity decline of 1.4 percent.
* Productivity outpaced hourly compensation gains in the oil and gas extraction industry, resulting in a 6.7 percent decline in unit labor costs, while unit labor costs increased 4.8 percent in mining, except oil and gas.
Productivity trends in selected time periods
* During the 1987-2014 period, productivity rose in 86 manufacturing and mining industries, with median productivity growth of approximately 1.7 percent per year.
* Productivity growth in the 1987-2014 period was associated with output rising in 60 manufacturing and mining industries, while hours worked increased in only 14.
* Productivity increased in 54 industries in the more recent 2007-2014 period, despite the period encompassing a severe recession.
* The 2007-2014 productivity increases are predominantly the result of a decline in hours worked, rather than an increase in output, as 70 industries experienced decreasing hours worked in this period compared to 25 industries that documented increasing output.
Productivity and Costs by Industry: Manufacturing and Mining Industries, 2015
For release 10:00 a.m. (EDT) Thursday, April 7, 2016
Technical information: (202) 691-5618 • dipsweb@bls.gov • www.bls.gov/lpc
Media contact: (202) 691-5902 • PressOffice@bls.gov
PRODUCTIVITY AND COSTS BY INDUSTRY:
MANUFACTURING AND MINING INDUSTRIES, 2015
Labor productivity rose in 31 of 63 manufacturing and mining industries in 2015, the U.S. Bureau of Labor Statistics reported today. This was higher than 2014 when labor productivity rose in 26 industries. Output and hours worked increased in fewer industries in 2015 than in the previous year.
Unit labor costs rose in 43 of 59 manufacturing industries and in three of four mining industries. Twelve industries with productivity increases posted declines in unit labor costs. Increases in labor productivity mitigate the impact of rising hourly compensation on unit labor costs facing employers.
Trends in labor productivity and unit labor costs in NAICS 3-digit industries in 2015
Manufacturing
* Labor productivity increased in 9 manufacturing industries in 2015, as output increased in 12 industries and hours worked fell in seven industries.
* Productivity rose fastest in the petroleum and coal products industry, where output increased by 4.6 percent and hours worked declined 2.3 percent.
* Unit labor costs increased in 16 manufacturing industries.
* For five industries, productivity outpaced hourly compensation growth, leading to declines in unit labor costs.
Mining
* Productivity rose 11.4 percent in the oil and gas extraction industry, where output increased and hours worked declined.
* Output in mining, except oil and gas, declined at a greater pace than hours worked, resulting in a productivity decline of 1.4 percent.
* Productivity outpaced hourly compensation gains in the oil and gas extraction industry, resulting in a 6.7 percent decline in unit labor costs, while unit labor costs increased 4.8 percent in mining, except oil and gas.
Productivity trends in selected time periods
* During the 1987-2014 period, productivity rose in 86 manufacturing and mining industries, with median productivity growth of approximately 1.7 percent per year.
* Productivity growth in the 1987-2014 period was associated with output rising in 60 manufacturing and mining industries, while hours worked increased in only 14.
* Productivity increased in 54 industries in the more recent 2007-2014 period, despite the period encompassing a severe recession.
* The 2007-2014 productivity increases are predominantly the result of a decline in hours worked, rather than an increase in output, as 70 industries experienced decreasing hours worked in this period compared to 25 industries that documented increasing output.
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