Labor Productivity Plummeted as COVID-19 Crisis Hit

Labor productivity decreased 2.5 percent in the first quarter of 2020, the U.S. Bureau of Labor Statistics reports, as output decreased 6.2 percent and hours worked decreased 3.8 percent.

Unit labor costs in the nonfarm business sector increased 4.8 percent in the first quarter of…

Productivity News Gets Better

Some good news on the economy got an upside revision last week.

In August, economists were surprised and thrilled by the latest report on labor productivity from the U.S. Bureau of Labor Statistics. The reason for this excitement? Productivity increased more during the second quarter of 2018 than it…