Productivity and Costs by Industry: Selected Service-Providing Industries News Release — 2021-06-11
Labor productivity fell in 13 of 29 selected service-providing industries in 2020, the U.S. Bureau of Labor Statistics reported today. In 2019…
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Labor productivity fell in 13 of 29 selected service-providing industries in 2020, the U.S. Bureau of Labor Statistics reported today. In 2019 labor productivity decreased in 14 of 29 industries. The economic downturn in 2020 resulted in output declines in 21 industries and hours worked declines in 24 industries. More than twice as many industries experienced decreases in 2020 compared to 2019, when output fell in 8 industries and hours worked fell in 10 industries. � Labor productivity fell in 13 of 29 industries in 2020. � There were 3 industries where productivity fell more than 38 percent: Air transportation (-57.0 percent), travel arrangement and reservation services (-44.7 percent), and amusement parks and arcades (-38.5 percent). In all 3 of those industries, output fell more than 55 percent. � Productivity increased in 5 industries where declines in hours worked exceeded the decrease in output. In all of those industries, output fell more than 10 percent.
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