The table reports the cross-sectional average slopes of univariate time-series regressions of percentage changes in industry-level profitability and (percent) industry-level returns on percentage changes in total factor productivity (TFP). Data are sourced from the Manufacturing and Nonmanufacturing KLEMS/BLS and from the OES/BLS data sets. A list of the broad industry groups used in the KLEMS/BLS data set is provided in the Internet Appendix Table IA.I of Donangelo (2014). In the first row of each panel, we assign industries into Low competition and High competition groups based on their average cross-sectional ranked values of product market competition. In the second and third rows of each panel, Low competition and High competition industry groups are further assigned to labor mobility subsamples based on their average cross-sectional ranking. Product market competition for an industry is measured using net sales-based market shares of all firms in that industry. $ΔProfits$ is growth in the ratio of payments to capital over productive capital stock. $ΔKLEMS TFP$ is multifactor productivity growth. $ΔAdjusted TFP$ is the residual of time-series regressions of $ΔKLEMS TFP$ growth on lagged employment and productive capital growth. Numbers in parentheses are t-statistics based on Huber-White robust standard errors. The sample period is from January 1990 to December 2016. Details on the estimation of the time-series regressions can be found in Section II.D and Table IV of Donangelo (2014).