India, March 6 -- Labor productivity in the U.S. grew by more than previously estimated in the fourth quarter of 2024, according to a report released by the Labor Department on Thursday.
The report said labor productivity shot up by 1.5 percent in the fourth quarter compared to the previously reported 1.2 percent jump. Economists had expected the increase in labor productivity to be unrevised.
The stronger than previously estimated productivity growth came as the surge in output was upwardly revised to 2.4 percent from 2.3 percent, while the increase in hours worked was downwardly revised to 0.8 percent from 1.0 percent.
Meanwhile, the Labor Department said the spike in unit labor costs in the fourth quarter was downwardly revised to 2.2...