US productivity growth unrevised at 5.4% rate in Q1
U.S. productivity growth was unrevised at a 5.4% rate in the first three months of the year while labor costs rose at an even faster rate
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.U.S. productivity growth was unrevised at a 5.4% rate in the first three months of the year while labor costs rose at an even faster rate.
The first quarter gain in productivity was unchanged from the initial estimate a month ago, the Labor Department reported Thursday. The 5.4% gain at a seasonally adjusted annual rate followed a steep plunge at a 3.8% rate in the fourth quarter.
Labor costs rose at a 1.7% rate in the first quarter, up from the initial estimate of a 1.6% increase.
Productivity the amount of output per hour of work, showed turned in weak gains over the record-long economic expansion that ended with the pandemic-triggered recession last year.
Economists are hoping that some of the efficiencies businesses have implemented to cope with the pandemic may lead to stronger productivity gains in coming years.