US BLS Corrects Productivity Data From 2019 to 2023

US Bureau of Labor Statistics issues corrected quarterly and annual productivity figures, along with hours worked figures, for 2019-2023.

• “A computation error in Off the Clock (OTC) hours worked ratios biased downward the labor hours levels underlying the Productivity and Costs news release,” BLS says
• “This error affected quarterly and annual hours worked data and all labor-related measures, including labor productivity, from first quarter 2019 through fourth quarter 2023 in all sectors”
• Incorrect figures were published March 7
• See link to corrected data

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Scott Lanman in Washington at slanman@bloomberg.net

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