美国第三季度非农生产率增长3.6%：单位劳动成本下降0.7%
美国劳工统计局（BLS）11月5日在华盛顿发布2026年第三季度生产率与成本初步数据：美国非农企业部门劳动生产率第三季度增长3.6%（经季节调整的年化率，下同），产出增长3.7%、工时增长0.1%；与去年同期相比，生产率增长2.1%。
非农企业部门的单位劳动成本第三季度下降0.7%，反映时薪增长2.9%与生产率增长3.6%的共同作用；过去四个季度，单位劳动成本累计增长2.4%。经消费价格调整后的实际时薪第三季度增长1.1%，过去四个季度增长1.0%。
劳动份额——即产出中以薪酬形式归于劳动者的比例——第三季度为53.0%，是这项统计自1947年第一季度开始以来的最低水平。
企业部门整体的生产率第三季度增长4.1%，产出增长3.9%、工时下降0.2%，单位劳动成本下降0.9%。
制造业生产率第三季度增长0.3%，产出增长1.3%、工时增长1.0%，同比增长0.4%。其中耐用品制造业生产率增长2.2%，非耐用品制造业下降1.7%。制造业单位劳动成本第三季度增长2.7%，同比增长4.0%。
自2019年第四季度本轮商业周期开始以来，非农企业生产率年化增长2.2%，高于上一商业周期的1.5%，与1947年以来的长期均值2.2%相同。劳工统计局同时修订此前数据：第二季度非农生产率由初报的增长1.4%上修至2.1%，单位劳动成本由增长1.2%上修至1.9%；本次发布纳入了美国经济分析局9月30日公布的国民收入与生产账户2026年度更新，相关指标回溯修订至2021年。
第三季度的修订版数据定于12月8日上午8时30分（美东时间）发布。
（来源：美国劳工统计局）
U.S. Nonfarm Productivity Rises 3.6% in Third Quarter as Unit Labor Costs Fall 0.7%
The U.S. Bureau of Labor Statistics (BLS) on November 5 in Washington released preliminary Productivity and Costs data for the third quarter of 2026: labor productivity in the nonfarm business sector rose 3.6 percent in the third quarter (seasonally adjusted annual rates), as output increased 3.7 percent and hours worked increased 0.1 percent. Productivity rose 2.1 percent from the same quarter a year ago.
Unit labor costs in the nonfarm business sector decreased 0.7 percent in the third quarter, reflecting a 2.9-percent increase in hourly compensation and a 3.6-percent increase in productivity. Over the last four quarters, unit labor costs increased 2.4 percent. Real hourly compensation, which takes consumer prices into account, increased 1.1 percent in the third quarter and 1.0 percent over the last four quarters.
The labor share — the percentage of output that accrues to workers in the form of compensation — was 53.0 percent in the third quarter, the lowest level in the series, which begins in the first quarter of 1947.
In the broader business sector, productivity increased 4.1 percent in the third quarter, as output rose 3.9 percent and hours worked fell 0.2 percent, while unit labor costs decreased 0.9 percent.
Manufacturing productivity increased 0.3 percent in the third quarter, as output rose 1.3 percent and hours worked rose 1.0 percent, and was up 0.4 percent from a year ago. Durable manufacturing productivity increased 2.2 percent, while nondurable manufacturing productivity decreased 1.7 percent. Manufacturing unit labor costs increased 2.7 percent in the quarter and 4.0 percent from a year ago.
During the current business cycle, starting in the fourth quarter of 2019, nonfarm business productivity has grown at an annualized rate of 2.2 percent through the third quarter of 2026, higher than the 1.5-percent rate of the previous business cycle and the same as the long-term rate of 2.2 percent since the first quarter of 1947. BLS also revised earlier data: second-quarter nonfarm productivity was revised up to an increase of 2.1 percent from 1.4 percent, and unit labor costs were revised up to an increase of 1.9 percent from 1.2 percent. The release incorporates the Bureau of Economic Analysis' 2026 annual update of the National Income and Product Accounts, released September 30, with related measures revised back to 2021.
The revised third-quarter release is scheduled for December 8 at 8:30 a.m. ET.
(Source: U.S. Bureau of Labor Statistics)
来源：美国劳工统计局
发布：GSM·美国（发布链接）
图片来源：图：位于华盛顿的美国劳工部总部弗朗西斯·珀金斯大楼正面（2025年2月摄），劳工统计局隶属劳工部。G. Edward Johnson 摄，CC BY，经 Wikimedia Commons。 / Photo: Front of the Frances Perkins Building, headquarters of the U.S. Department of Labor in Washington, D.C., home department of the Bureau of Labor Statistics (February 2025). Photo by G. Edward Johnson, CC BY, via Wikimedia Commons.
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