U.S. productivity fell at a 0.9% charge within the main three months of this 300 and sixty five days, a smaller decline than first estimated, while labor costs rose at a somewhat faster dart
By
MARTIN CRUTSINGER AP Economics Writer
June 4, 2020, 1: 13 PM
1 min read
WASHINGTON —
U.S. productivity fell at a 0.9% charge within the main three months of this 300 and sixty five days, a smaller decline than first estimated, while labor costs rose at a somewhat faster dart.
The Labor Division reported Thursday that the main-quarter decline in productivity became smaller than the preliminary estimate a month ago of a 2.5% fall. Labor costs rose at a 5.1% charge, a runt little bit of faster than the 4.8% magnify first reported.
Productiveness, the quantity of output per hour of labor, has lagged over the past decade, a troubling constructing that economists had been unable to adequately present. Productiveness is the main to rising living standards, and the unhurried dart of boost in contemporary times has been a foremost motive that wage good points comprise lagged.
The revision to the productivity figures adopted closing week’s revised recordsdata on the performance of the noxious home product, the economy’s complete output of items and companies and products. The federal government stated GDP fell at an annual charge of 5% within the main quarter, a runt little bit of worse than the 4.8% decline that became estimated a month ago.
