When the annual average for 2007 was compared with that for 2006, labor productivity increased 1.4 percent in the nonfinancial corporate sector. In the previous six years, 2000 through 2006, output per hour increased an average of 2.6 percent per year. Output increased 2.1 percent in 2007, down from 3.0 percent in 2006, and hours rose 0.7 percent, compared with 2.2 percent during the previous year.

Hourly compensation grew 4.7 percent in 2007, and real hourly compensation increased 1.8 percent. The increase in hourly compensation was the largest in the series since 2000, when it had increased 7.1 percent. Total unit costs in 2007 rose 2.6 percent, reflecting a 3.2 percent increase in unit labor costs and a 1.1 percent increase in unit nonlabor costs. Unit profits fell 5.7 percent in 2007. This was the first decline since 2001, when the series fell 24.3 percent. The implicit price deflator, which reflects both the unit costs and unit profits measures, rose 1.6 percent in 2007.


Available at:

http://stats.bls.gov/news.release/prod2.nr0.htm