WASHINGTON (dpa-AFX) - After reporting a modest decrease in U.S. labor productivity in the previous quarter, the Labor Department released a report on Thursday showing a notable rebound in productivity in the fourth quarter.
The Labor Department said labor productivity jumped by 1.4 percent in the fourth quarter after edging down by 0.2 percent in the third quarter. Economists had expected productivity to surge up by about 1.5 percent.
The report said unit labor costs also shot up by 1.4 percent in the fourth quarter after spiking by 2.5 percent in the previous quarter. The continued increase in labor costs matched economist estimates.
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