World News | US Productivity Growth Unrevised at 5.4 Per Cent Rate in Q1
Get latest articles and stories on World at LatestLY. US productivity growth was unrevised at a 5.4 per cent rate in the first three months of the year while labour costs rose at an even faster rate.
Washington, Jun 3 (AP) US productivity growth was unrevised at a 5.4 per cent rate in the first three months of the year while labour costs rose at an even faster rate.
The first quarter gain in productivity was unchanged from the initial estimate a month ago, the Labour Department reported Thursday.
The 5.4 per cent gain at a seasonally adjusted annual rate followed a steep plunge at a 3.8 per cent rate in the fourth quarter.
Labour costs rose at a 1.7 per cent rate in the first quarter, up from the initial estimate that labor costs had fallen 0.3 per cent in the first quarter.
Productivity, the amount of output per hour of work, showed turned in weak gains over the record-long economic expansion that ended with the pandemic-triggered recession last year.
Economists are hoping that some of the efficiencies businesses have implemented to cope with the pandemic may lead to stronger productivity gains in coming years.(AP)
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