Labor Productivity Big Rise

According to the Thursday, March 29th,10:00 A.M. release of productivity statistics in manufacturing,  “labor productivity, defined as output per hour, rose in 83 % of the 86 detailed manufacturing industries studied in 2010”.

According to the bureau, this was up from 30% in 2009.   The bureau also reported that “unit labor costs, which reflect the total labor costs required to product a unit of output, declined in 73% of the industries in 2010, compared to only 21% in 2009, as productivity increased more rapidly than hourly compensation.