Productivity and Costs by Industry: Wholesale Trade and Retail Trade News Release — 2021-07-29

Labor productivity rose 7.7 percent in retail trade and 3.6 percent in wholesale trade in 2020, the U.S. Bureau of Labor Statistics reported today. Unit labor costs, which reflect the total labor costs required to produce a unit of output, rose in wholesale trade and fell in retail trade. Annual productivity growth for retail trade in 2020 was the highest since measurement began in 1987. In 2020 for retail trade and wholesale trade, hours worked fell at the fastest rates since 2009. Output increased at an accelerating rate for retail trade in 2020 while it decreased for the first time since 2010 for wholesale trade. Among the six NAICS 4-digit industries with the highest productivity growth, five reported growth in output while all six showed declines in hours worked.