(Bloomberg) -- U.S. worker productivity last quarter probably grew at a slower pace and labor costs climbed, raising concern inflation will be slow to recede, economists said before a government report today.
Productivity, a measure of how much an employee produces for each hour of work, rose at an annual rate of 0.7 percent, compared with a 1.6 percent increase in the fourth quarter, according to the median forecast of 72 economists in a Bloomberg News survey. Labor costs adjusted for productivity probably rose at a 3.8 percent pace after a 6.6 percent fourth-quarter jump.
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