U.S. Labor Productivity Growth Unrevised At 5.4% In Q1 : vim

U.S. Labor Productivity Growth Unrevised At 5.4% In Q1


U.S. Labor Productivity Growth Unrevised At 5.4% In Q1
WASHINGTON (dpa-AFX) - The jump in U.S. labor productivity in the first quarter of 2021 was unrevised from the initial estimate, according to a report released by the Labor Department on Thursday.
The report showed labor productivity surged up by 5.4 percent in the first quarter, unrevised from the estimate provided last month. Economists had expected the pace of productivity growth to be upwardly revised slightly to 5.5 percent.
The unrevised reading on productivity, a measure of output per hour, reflected upward revisions to both output and hours worked.
Output soared by 8.6 percent compared to the previously reported 8.4 percent spike, while the jump in hours worked was upwardly revised to 3.0 percent from 2.9 percent.

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