WASHINGTON (dpa-AFX) - A report released by the Labor Department on Thursday showed the spike in U.S. labor productivity in the fourth quarter of 2021 was unrevised from the initial estimate.
The Labor Department said labor productivity surged by 6.6 percent in the fourth quarter after tumbling by 3.9 percent in the third quarter. Economists had expected the jump in productivity to be upwardly revised to 6.7 percent.
Meanwhile, the report showed the increase in unit labor costs during the quarter was upwardly revised to 0.9 percent from the previously reported 0.3 percent. Unit labor costs were expected to be unrevised.
The advance in unit labor costs during the fourth quarter came following a 10.6 percent spike in the third quarter.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
