2023 Second Quarter (Revised) Productivity and Costs — 2023-09-07

(NOTE: This release was reissued on September 18, 2023, due to errors in the first and second quarter 2023 estimates of hours worked for the business, nonfarm business, and nonfinancial corporate sectors. Results for the manufacturing sectors were correct as originally published. The errors in hours worked resulted in errors in related measures, including labor productivity. Affected estimates in this release have been corrected. Corrections to percent changes from the previous quarter and from the same quarter a year ago did not exceed 0.1 percentage point. Additional information is available at www.bls.gov/errata/.) Nonfarm business sector labor productivity increased 3.5 percent in the second quarter of 2023, the U.S. Bureau of Labor Statistics reported today, reflecting a 0.2-percentage point downward revision from the preliminary estimate. Output increased 1.9 percent and hours worked decreased 1.5 percent in the second quarter of 2023.