WASHINGTON (dpa-AFX) - A report released by the Labor Department on Thursday showed U.S. labor productivity and unit labor costs both increased by less than expected in the fourth quarter of 2024.
The Labor Department said labor productivity shot up by 1.2 percent in the fourth quarter after surging by an upwardly revised 2.3 percent in the third quarter. Economists had expected labor productivity to jump by 1.7 percent.
Meanwhile, the report said unit labor costs spiked by 3.0 percent in the third quarter after rising by a downwardly revised 0.5 percent in the third quarter. Economists had expected unit labor costs to soar by 3.8 percent.
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