USA: Productivity collapses – unit labor costs rise sharply
The New York Statue of Liberty. New York is the stock exchange metropolis of the United States. pexels.com
WASHINGTON (dpa-AFX) – The productivity of the US economy has collapsed in the third quarter. The ratio of production and working time fell by 5.2 percent projected over the year, as the Department of Labor announced in Washington on Tuesday. This is the most significant decrease since 1960, the ministry said. A first publication had shown a decrease of 5.0 percent.
Production increased by 1.8 percent, as the ministry further announced. However, the number of hours worked increased even more, by 7.4 percent. In the meantime, unit labor costs rose strongly by 9.6 percent when projected for the year. Productivity and unit labor costs indicate the efficiency of an economy. / Bgf / jsl / eas
Subscribe to more news for free
ARIVA.DE publishes analyzes, columns and news from various sources in this section. ARIVA.DE AG is not responsible for content that has been recognized by third parties in the “News” area of this website and does not adopt it as its own. This content can be identified in particular by a corresponding “from” mark below the article heading and / or by the link “To read the full article, please click here.”; The named third party is solely responsible for this content.
Other users were also interested in this article: