Article

Labor productivity rises again in 2005

February 2006
Chemical & Engineering News 84(6):17

February 2006
84(6):17

DOI:10.1021/cen-v084n006.p017

Authors:

LABOR PRODUCTIVITY IN THE U.S. chemical industry increased in 2005, according to calculations using preliminary data from the Federal Reserve Board and the Department of Labor. This is the industry's 23rd straight year of rising productivity, or output per workhour, as it reduces employment while increasing output from chemical plants. Meanwhile, unit labor costs—a more volatile measure of the cost of labor per unit of output—increased in 2005 for the third year in a row, no doubt to the chagrin of chemical companies. The data show that chemical productivity rose 2.4% in 2005 to an index of 133.6 (all indexes are 1997 = 100), compared with a 3.2% increase in the previous year. The increase came on lower employment of production workers and a lesser decrease in chemical production. But unit labor costs showed a slight rise of 0.3% to an index of 93.3. The 0.3% increase matched the 2004 rise. The ...

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