Mumbai, May 9 -- The Labor Department released a report on Thursday showing a pullback by U.S. labor productivity in the first quarter of 2025 along with a sharp increase by unit labor costs.
The report said labor productivity fell by 0.8 percent in the first quarter after jumping by an upwardly revised 1.7 percent in the fourth quarter of 2024.
The bigger than expected pullback by labor productivity in the first quarter marked the first decline since the second quarter of 2022.
The decrease by labor productivity, a measure of output per hour, came as output fell by 0.3 percent and hours worked increased by 0.6 percent.
Meanwhile, the report said unit labor costs soared by 5.7 percent in the first quarter after shooting up by a revised ...