US seasonally adjusted nonfarm business sector labor productivity fell at 3.2% annual rate in Q1, as hours rose 2.2%, output fell 1.1%; decrease in productivity was largest since Q1 2008: Dept. of Labor
June 4, 2014
– Nonfarm business sector labor productivity decreased at a 3.2 percent annual rate during the first quarter of 2014, the U.S. Bureau of Labor Statistics reported today, as hours increased 2.2 percent and output decreased 1.1 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) The decrease in productivity was the largest since the first quarter of 2008 (-3.9 percent). From the first quarter of 2013 to the first quarter of 2014, productivity increased 1.0 percent as output and hours worked rose 2.8 percent and 1.7 percent, respectively.
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