Productivity and Costs by Industry: Wholesale Trade and Retail Trade News Release - 2022 A01 Results — 2023-05-25

Labor productivity declined 1.2 percent in wholesale trade and 0.4 percent in retail trade in 2022, 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 both wholesale trade and retail trade. Annual productivity decreased in retail trade for the first time since 2008, with output declining at a faster rate than hours worked. In wholesale trade, annual productivity decreased for the first time since 2011, with hours worked growing at a higher rate than output. This was the second year in a row of increasing output and hours worked for wholesale trade after declining in 2020. All 6 four-digit NAICS industries with the highest productivity growth reported increases in output and five showed declines in hours worked.