U.S. Productivity Slows

Washington, Jumada I 23, 1437, Mar 3, 2016, SPA — U.S. productivity fell in the fourth quarter of 2015 at the fastest pace in almost two years, though the decline was not as large as initially reported, the government said Thursday, adding that labor costs jumped in the final three months of last year at the fastest pace in a year.
The Labor Department said productivity—the mount of output per hour of work—fell at an annual rate of 2.2 percent in the October-December period. Earlier data had been reported as a 3 percent drop. Labor costs rose at an annual rate of 3.3 percent, revised from an initial 4.5 percent estimate.
For all of 2015, productivity increased 0.7 percent, marking the fifth consecutive year of weak gains, a troubling development because productivity is a key condition necessary for rising living standards.

–SPA
19:47 LOCAL TIME 16:47 GMT