Understanding U.S. Labor Productivity Trends During COVID-19

Explore the impact of the COVID-19 pandemic on U.S. labor productivity and output growth through visual data representations and analysis. Gain insights into the changes in labor composition, hours worked, and real output growth in different industries from 2019Q4 to 2020Q4. Discover the sources of labor productivity growth and how it is calculated.

• Labor Productivity
• COVID-19 Era
• U.S. BLS
• Output Growth
• Workforce Composition

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1. U.S. Productivity and Labor Composition in the COVID-19 Era Matt Russell Jay Stewart 1 U.S. BUREAU OF LABOR STATISTICS bls.gov

2. US Labor Productivity, Output and Hours, 2020 2 U.S. BUREAUOF LABOR STATISTICS bls.gov 2 U.S. BUREAUOF LABOR STATISTICS bls.gov

3. US Labor Productivity, Hours, Output, 2019Q4-2020Q4 3 U.S. BUREAUOF LABOR STATISTICS bls.gov 3 U.S. BUREAUOF LABOR STATISTICS bls.gov

4. Real output growth, annualized 2020Q2-Q3 4 U.S. BUREAUOF LABOR STATISTICS bls.gov 4 U.S. BUREAUOF LABOR STATISTICS bls.gov

5. Hours worked growth, annualized, 2020Q2-Q3 5 U.S. BUREAUOF LABOR STATISTICS bls.gov 5 U.S. BUREAUOF LABOR STATISTICS bls.gov

6. Labor productivity growth, annualized, 2020Q2-Q3 6 U.S. BUREAUOF LABOR STATISTICS bls.gov 6 U.S. BUREAUOF LABOR STATISTICS bls.gov

7. Different Industries, Different Stories Labor productivity, output and hours index series, Food services and drinking places, 2005Q1-2020Q3 7 U.S. BUREAUOF LABOR STATISTICS bls.gov 7 U.S. BUREAUOF LABOR STATISTICS bls.gov

8. Labor productivity, output and hours index series, Warehousing and storage, 2005Q1-2020Q3 8 U.S. BUREAUOF LABOR STATISTICS bls.gov 8 U.S. BUREAUOF LABOR STATISTICS bls.gov

9. Sources of Labor Productivity Growth Labor productivity growth can be written as: Growth in Output Growth in Hours Worked which is equal to: MFP Growth + sK(Capital Intensity Growth) + sL(Labor Composition Growth) 9 U.S. BUREAUOF LABOR STATISTICS bls.gov 9 U.S. BUREAUOF LABOR STATISTICS bls.gov

10. Labor Productivity and Possible Drivers 10 U.S. BUREAUOF LABOR STATISTICS bls.gov 10 U.S. BUREAUOF LABOR STATISTICS bls.gov

11. Quarterly Labor Composition Data from BLS household survey (CPS) Nonfarm business and 14 supersectors Sample weights adjusted to control to BLS hours totals by industry Cells were combined for several supersectors Wages predicted values from wage equation 11 U.S. BUREAUOF LABOR STATISTICS bls.gov 11 U.S. BUREAUOF LABOR STATISTICS bls.gov

12. Indexes of Hours, Labor Input, and Labor Composition 12 U.S. BUREAUOF LABOR STATISTICS bls.gov 12 U.S. BUREAUOF LABOR STATISTICS bls.gov

13. Labor Composition for Selected Supersectors 13 U.S. BUREAUOF LABOR STATISTICS bls.gov 13 U.S. BUREAUOF LABOR STATISTICS bls.gov

14. Labor Composition for Selected Supersectors 14 U.S. BUREAUOF LABOR STATISTICS bls.gov 14 U.S. BUREAUOF LABOR STATISTICS bls.gov

15. The Impact of Changes in Industry Composition 15 U.S. BUREAUOF LABOR STATISTICS bls.gov 15 U.S. BUREAUOF LABOR STATISTICS bls.gov

16. Contact Information Matt Russell Major Sector Productivity Office of Productivity and Technology 202-691-7487 Russell.matthew@bls.gov Jay Stewart Senior Research Economist Office of Productivity and Technology https://www.bls.gov/dpr/authors/stewart.htm 202-691-7376 Stewart.Jay@bls.gov 16 U.S. BUREAUOF LABOR STATISTICS bls.gov