MarketXLS

Labor Productivity (Nonfarm Business Sector)

120.02 for Q2 2026

Labor Productivity (Nonfarm Business Sector) came in at 120.02 (Index 2017=100) for Q2 2026, up 0.35% from 119.59 the prior quarter and 2.24% above its level of 117.39 one year ago. The series has averaged 61.46 since 1947, reaching a record high of 120.02 in April 2026 and a record low of 22.07 in July 1947.

Source: Federal Reserve Economic Data (FRED), St. Louis Fed

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Cite this data: "Labor Productivity (Nonfarm Business Sector)," MarketXLS. Data from Federal Reserve Economic Data (FRED), St. Louis Fed. marketxls.com/indicators/labor-productivity

Historical Data

Observation dateValue
April 1, 2026120.02
January 1, 2026119.59
October 1, 2025119.35
July 1, 2025118.88
April 1, 2025117.39
January 1, 2025116.19
October 1, 2024116.45
July 1, 2024116.04
April 1, 2024114.99
January 1, 2024113.95
October 1, 2023113.88
July 1, 2023112.79
April 1, 2023111.4
January 1, 2023110.3
October 1, 2022110.05
July 1, 2022109.42
April 1, 2022109.36
January 1, 2022110.18
October 1, 2021111.58
July 1, 2021110.95
April 1, 2021111.63
January 1, 2021111.39
October 1, 2020110.6
July 1, 2020111.49
April 1, 2020109.77
January 1, 2020104.68
October 1, 2019105.1
July 1, 2019104.13
April 1, 2019102.97
January 1, 2019102.34
October 1, 2018101.49
July 1, 2018101.67
April 1, 2018101.37
January 1, 2018101.36
October 1, 2017101.03
July 1, 2017100.29
April 1, 201799.49
January 1, 201799.43
October 1, 201699.27
July 1, 201698.6
April 1, 201698.27
January 1, 201698.21
October 1, 201597.79
July 1, 201598.39
April 1, 201598.12
January 1, 201597.64
October 1, 201497.08
July 1, 201497.41
April 1, 201496.58
January 1, 201495.96
October 1, 201396.76
July 1, 201395.84
April 1, 201395.16
January 1, 201395.4
October 1, 201294.93
July 1, 201295.29
April 1, 201295.57
January 1, 201295.08
October 1, 201194.6
July 1, 201194.15
April 1, 201194.32
January 1, 201194.26
October 1, 201094.96
July 1, 201094.66
April 1, 201094.06
January 1, 201093.74
October 1, 200993.64
July 1, 200992.39
April 1, 200990.94
January 1, 200988.9
October 1, 200887.9
July 1, 200888.37
April 1, 200888.16
January 1, 200887.14
October 1, 200787.72
July 1, 200787.03
April 1, 200786.27
January 1, 200786.01
October 1, 200685.71
July 1, 200685.16
April 1, 200685.32
January 1, 200685.42
October 1, 200584.83
July 1, 200584.83
April 1, 200584.25
January 1, 200584.32
October 1, 200483.43
July 1, 200483.06
April 1, 200482.68
January 1, 200481.83
October 1, 200382.07
July 1, 200381.3
April 1, 200379.55
January 1, 200378.51
October 1, 200277.75
July 1, 200277.85
April 1, 200277.26
January 1, 200277.14
October 1, 200175.56
July 1, 200174.61
April 1, 200174.19
January 1, 200172.94
October 1, 200073.35
July 1, 200072.59
April 1, 200072.66
January 1, 200071.22
October 1, 199971.52
July 1, 199970.47
April 1, 199969.83
January 1, 199969.58
October 1, 199868.63
July 1, 199868.1
April 1, 199867.2
January 1, 199866.86
October 1, 199766.25
July 1, 199765.93
April 1, 199765.4
January 1, 199764.45
October 1, 199664.59
July 1, 199664.52
April 1, 199664.28
January 1, 199663.67
October 1, 199563.27
July 1, 199562.93
April 1, 199562.94
January 1, 199562.64
October 1, 199462.6
July 1, 199461.95
April 1, 199462.3
January 1, 199462.24
October 1, 199362.07
July 1, 199361.83
April 1, 199361.55
January 1, 199361.92
October 1, 199262.45
July 1, 199262.09
April 1, 199261.53
January 1, 199261.02
October 1, 199159.84
July 1, 199159.55
April 1, 199159.05
January 1, 199158.1
October 1, 199057.92
July 1, 199058.53
April 1, 199058.34
January 1, 199057.94
October 1, 198957.4
July 1, 198957.4
April 1, 198957.13
January 1, 198956.97
October 1, 198856.87
July 1, 198856.81
April 1, 198856.69
January 1, 198856.53
October 1, 198756.32
July 1, 198755.76
April 1, 198755.75
January 1, 198755.38
October 1, 198655.64
July 1, 198655.76
April 1, 198655.52
January 1, 198655.09
October 1, 198554.45
July 1, 198554.23
April 1, 198553.55
January 1, 198553.38
October 1, 198453.21
July 1, 198453.15
April 1, 198452.93
January 1, 198452.63
October 1, 198352.38
July 1, 198352.08
April 1, 198351.96
January 1, 198350.84
October 1, 198250.16
July 1, 198249.72
April 1, 198249.63
January 1, 198249.61
October 1, 198149.86
July 1, 198150.4
April 1, 198149.93
January 1, 198150.58
October 1, 198049.82
July 1, 198049.32
April 1, 198049.12
January 1, 198049.64
October 1, 197949.41
July 1, 197949.46
April 1, 197949.52
January 1, 197949.62
October 1, 197850.07
July 1, 197849.74
April 1, 197849.71
January 1, 197848.74
October 1, 197748.72
July 1, 197749.34
April 1, 197748.83
January 1, 197748.63
October 1, 197648.32
July 1, 197648.18
April 1, 197648.07
January 1, 197647.63
October 1, 197546.94
July 1, 197546.89
April 1, 197546.32
January 1, 197545.6
October 1, 197445.26
July 1, 197444.86
April 1, 197445.32
January 1, 197445.46
October 1, 197345.57
July 1, 197345.86
April 1, 197346.29
January 1, 197346.27
October 1, 197245.25
July 1, 197244.87
April 1, 197244.61
January 1, 197243.75
October 1, 197143.08
July 1, 197143.45
April 1, 197143.05
January 1, 197142.93
October 1, 197041.69
July 1, 197042.08
April 1, 197041.43
January 1, 197040.83
October 1, 196940.7
July 1, 196940.91
April 1, 196940.87
January 1, 196941.2
October 1, 196840.88
July 1, 196840.98
April 1, 196840.96
January 1, 196840.58
October 1, 196739.7
July 1, 196739.58
April 1, 196739.38
January 1, 196739.24
October 1, 196638.93
July 1, 196638.69
April 1, 196638.56
January 1, 196638.83
October 1, 196538.31
July 1, 196537.66
April 1, 196536.91
January 1, 196536.74
October 1, 196436.22
July 1, 196436.57
April 1, 196436.2
January 1, 196436
October 1, 196335.78
July 1, 196335.8
April 1, 196334.94
January 1, 196334.68
October 1, 196234.58
July 1, 196234.32
April 1, 196233.76
January 1, 196233.9
October 1, 196133.35
July 1, 196133.07
April 1, 196132.51
January 1, 196131.68
October 1, 196031.28
July 1, 196031.7
April 1, 196031.51
January 1, 196032.01
October 1, 195931.28
July 1, 195931.38
April 1, 195931.34
January 1, 195931.03
October 1, 195831
July 1, 195830.48
April 1, 195829.91
January 1, 195829.35
October 1, 195729.76
July 1, 195729.66
April 1, 195729.25
January 1, 195729.37
October 1, 195629.04
July 1, 195628.73
April 1, 195628.73
January 1, 195628.59
October 1, 195528.94
July 1, 195529.05
April 1, 195528.94
January 1, 195528.84
October 1, 195428.28
July 1, 195427.97
April 1, 195427.47
January 1, 195427.28
October 1, 195327.23
July 1, 195327.32
April 1, 195327.21
January 1, 195327.14
October 1, 195226.91
July 1, 195226.35
April 1, 195226.48
January 1, 195226.53
October 1, 195126.4
July 1, 195126.32
April 1, 195125.75
January 1, 195125.83
October 1, 195025.8
July 1, 195025.75
April 1, 195025.21
January 1, 195024.9
October 1, 194924.07
July 1, 194924.2
April 1, 194923.64
January 1, 194923.4
October 1, 194823.16
July 1, 194823.06
April 1, 194823.04
January 1, 194823.1
October 1, 194722.99
July 1, 194722.07
April 1, 194722.76
January 1, 194722.26

About Labor Productivity (Nonfarm Business Sector)

What it measures

Nonfarm Business Sector Labor Productivity (FRED series OPHNFB) measures real output per hour worked in the US nonfarm business sector. The Bureau of Labor Statistics publishes it quarterly by combining output measures derived from the national accounts with hours data from its employment surveys, expressed as an index.

Why it matters

Productivity growth is the ultimate source of rising living standards and noninflationary wage gains: when output per hour rises, firms can pay more without raising prices. It also determines potential GDP growth and shapes how the Federal Reserve interprets wage data. Long swings in productivity trends define entire macroeconomic eras.

How to read it

Quarterly productivity is extremely noisy, swinging with the timing of output and hours measurement, so judge the trend over years, not quarters. Productivity often spikes early in recoveries as output rebounds before hiring resumes, a cyclical artifact rather than a structural gain. Read it with unit labor costs: wage growth minus productivity growth approximates cost pressure.

Get Labor Productivity (Nonfarm Business Sector) in Excel

Pull Labor Productivity (Nonfarm Business Sector) directly into your spreadsheet with a single MarketXLS formula - always current, no copy-pasting:

=RealOutput()

View the Real Output Per Hour - Nonfarm formula documentation or browse all 100+ Economic Data functions.

Frequently Asked Questions

What is the current Labor Productivity (Nonfarm Business Sector)?

Labor Productivity (Nonfarm Business Sector) is 120.02 (Index 2017=100) as of April 2026.

What is the all-time high and low of Labor Productivity (Nonfarm Business Sector)?

The highest value on record is 120.02 (April 2026) and the lowest is 22.07 (July 1947).

How often is Labor Productivity (Nonfarm Business Sector) updated?

Labor Productivity (Nonfarm Business Sector) is published on a quarterly basis, sourced from Federal Reserve Economic Data (FRED).

How do I get Labor Productivity (Nonfarm Business Sector) in Excel?

Use the MarketXLS Excel formula =RealOutput() to pull Labor Productivity (Nonfarm Business Sector) directly into any cell, with historical values available for analysis.

Basic info
Total inflation adjusted non-farm output produced in the economy.
RegionUnited States
FrequencyQuarterly
Last updatedAugust 6, 2026
Seasonal adjustmentSeasonally Adjusted
UnitIndex 2017=100

Stats
Last Value120.02
Latest PeriodQ2 2026
Last UpdatedAugust 6 2026, 07:38
Value Previous Quarter119.59
Change From Previous Quarter0.35%
Value 1 Year Ago117.39
Change From Year Ago2.24%
Average Growth Rate2.15%/yr
Record High (Apr 2026)120.02
Record Low (Jul 1947)22.07
Long-Term Average61.46
FrequencyQuarterly
AdjustmentSeasonally Adjusted
UnitIndex 2017=100

Annual Averages
2026119.81
2025117.95
2024115.35
2023112.09
2022109.75
2021111.39
2020109.14
2019103.64
2018101.47
2017100.06
201698.59
201597.98

Related Indicators
Nonfarm Payrolls
All Employees, Total Private
All Employees, Goods-Producing
All Employees, Service-Providing
All Employees, Government
Unemployment Rate
Initial Jobless Claims
Average Weeks Unemployed
Job Openings: Total Nonfarm
Hires: Total Nonfarm
Total Separations: Total Nonfarm
Quits: Total Nonfarm
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