Labor Productivity Grows at Highest Rate in Three Years
7 hr 31 min ago
Labor productivity in the first quarter grew at the highest annual rate in three years, data from the Bureau of Labor Statistics showed Thursday.
Labor productivity was higher by 2.9% over the year, showing that U.S. workers were creating more value compared with their hours worked, potentially allowing wages to rise without pushing inflation higher. It’s the highest year-over-year growth since the first quarter of 2021.
Compared with the fourth quarter of 2023, labor productivity increased 0.2%, with output increasing by 0.9% and hours worked up by 0.6%.
-Terry Lane
Trade Deficit Jumps on Car, Computer Imports
9 hr 5 min ago
The U.S. trade deficit increased in April by $6 billion, a jump of nearly 8.7% from the prior month, to reach its highest levels since October 2022.
The Bureau of…
