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- Final productivity in the U.S. non-farm businesses declines at a 2.2% annual rate in the fourth quarter
Final productivity in the U.S. non-farm businesses declines at a 2.2% annual rate in the fourth quarter
The U.S. Labor Department released its final non-farm productivity figures on Thursday. Final productivity in the U.S. non-farm businesses declined at a 2.2% annual rate in the fourth quarter, up from the preliminary reading of a 3.0% drop, after a 2.1% increase in the third quarter. It was the biggest drop since the first quarter of 2014.
The upward revision was driven by higher nonfarm business output, which rose 1.0% in the fourth quarter, up from the preliminary reading of a 0.1% gain.
Hours worked increased by 3.2% in the fourth quarter, down from the preliminary reading of a 3.3% rise.
In 2015 as whole, productivity rose 0.7%, the weakest rise since 2013, up from the preliminary reading of a 0.6% gain, after a 0.7% increase in 2014.
Final unit labour costs climbed 3.3% in the fourth quarter, up from the preliminary reading of a 4.5% increase, after a 1.9 gain in the third quarter.
In 2015 as whole, labour costs climbed 2.1, down from the preliminary reading of a 2.4% rise, after a 2.0% gain.
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