U.S. Economy

     (CN) – U.S. worker productivity sagged during the first quarter of 2016, though not as badly as the government initially feared.
     The Bureau of Labor Statistics said Tuesday that productivity declined at an annual rate of 0.6 percent in the first quarter after a 1.7 percent drop in the fourth quarter.
     Government economists initially believed productivity fell by closer to 1 percent.
     Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked of all persons, including employees, proprietors, and unpaid family workers.
     Measures released today were based on more recent source data than were available for the preliminary report.
     Meanwhile, labor costs for employers rose at a 4.5 percent rate in the first quarter, the agency said.

%d bloggers like this: