US labour productivity dips 0.4% in retail trade in 2022

The declines in productivity were the first since 2011 for wholesale trade and 2008 for retail trade. In wholesale trade, productivity increased 0.1 per cent for durable goods and decreased 1.8 per cent for non-durable goods in 2022, the US Bureau of Labor Statistics said in a press release.

In retail trade, productivity rose in six of the 12 industries studied. The largest productivity increases in 2022 occurred in non-store retailers at 11.1 per cent and miscellaneous store retailers at 7.9 per cent. The largest productivity decreases in 2022 were categories including home furnishings stores, which fell by 10.9 per cent.

ALCHEMPro News Desk (NB)