Non-Farm Productivity Up 0.7 Percent
February 3, 2012 by UPI - United Press International, Inc.
WASHINGTON, Feb. 2 (UPI) — The U.S. Labor Department said non-farm productivity rose 0.7 percent annual rate in the fourth quarter.
Output rose 3.6 percent after rising 3.2 percent in the third quarter. Hours worked rose 2.9 percent after rising 0.8 percent in the third quarter, the department said.
In the past 12 months, comparing fourth quarter to fourth quarter, productivity rose 0.5 percent as output rose 2.3 percent, while hours worked rose 1.8 percent.
Labor costs per unit of production rose 1.2 percent in the fourth quarter, as productivity, up 0.7 percent, rose at a slower rate than hourly compensation, which rose 1.9 percent.
Over the past four quarters, unit labor costs rose 1.3 percent, the department said.