Us Worker Productivity News Today : Breaking News, Live Updates & Top Stories | Vimarsana

U.S. worker productivity growth slowed significantly in the first quarter, leading to a surge in labor costs, although the productivity trend remained solid. According to the Labor Department's Bureau of Labor Statistics, nonfarm productivity increased at a modest 0.3% annualized rate, down from 3.5% in the previous quarter. Economists had forecasted a higher rate of 0.8%. Productivity has risen by 2.9% compared to a year ago.

WASHINGTON (Reuters) — U.S. worker productivity rebounded at a bit faster pace than initially thought in the third quarter, though the trend remained weak, keeping labor costs elevated.

After a huge burst in productivity growth at the beginning of the pandemic, productivity among U.S. workers in the non-farming sector took its deepest plunge in 48 years this year.