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US PRODUCTIVITY
FALLS AT 0.9%
RATE IN FIRST
QUARTER
U.S. productivity fell at a 0.9% rate in the first
three months of this year, a smaller decline than
first estimated, while labor costs rose at a slightly
faster pace.
The Labor Department reported Thursday that
the first-quarter decline in productivity was
smaller than the initial estimate a month ago of a
2.5% drop. Labor costs rose at a 5.1% rate, slightly
faster than the 4.8% increase first reported.
Productivity, the amount of output per hour
of work, has lagged over the past decade, a
troubling development that economists have
Image: Paul Sancya
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