Worker productivity unexpectedly rises
US Q1 worker productivity unexpectedly rose at a 0.3 percent annualized rate and unit labor costs rose at a 3.3 percent rate, the US Labor Department announced Thursday, as companies continued to find ways to increase per employee output amid difficult business conditions.
US non-farm productivity, measured as hourly output per worker, rose at a 1.8 percent pace in the preliminary fourth quarter data, news that may help comfort a Federal Reserve that has shifted its focus away from inflation to slash interest rates in recent weeks to curb slowing growth.