U.S. Labor Productivity Jump Unrevised In Q4, Labor Cost Growth Downwardly Revised
(RTTNews) - Labor productivity in the U.S. saw an unrevised jump in the fourth quarter of 2023, according to a report released by the Labor Department on Thursday.
The Labor Department said labor productivity shot up by 3.2 percent in the fourth quarter, unchanged from the previous estimate. Economists had expected the surge in productivity to be downwardly revised to 3.1 percent.
Meanwhile, the report said unit labor costs rose by 0.4 percent in the fourth quarter compared to the previously reported 0.5 percent advance. Economists had expected the increase in labor costs to be upwardly revised to 0.6 percent.
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