Economic Buzz: US Labor Productivity Spikes 5.4% In Q1

Economic Buzz: US Labor Productivity Spikes 5.4% In Q1

May 07, 2021 08:05 IST capital market

After reporting a sharp pullback in U.S. labor productivity in the previous quarter, the Labor Department released a report on Thursday showing productivity rebounded by more than expected in the first quarter of 2021. The Labor Department said labor productivity spiked by 5.4 percent in the first quarter after tumbling by a revised 3.8 percent in the fourth quarter of 2020. The rebound in productivity, a measure of output per hour, came as output shot up by 8.4 percent compared to a 2.9 percent increase in hours worked.

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