Productivity in U.S. Declines for Second Straight Quarter
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The productivity of U.S. workers dropped from April through June for the second consecutive quarter, leading to an increase in labor costs that may restrain gains in profits.
The measure of employee output per hour fell at a 0.3 percent annual rate in the second quarter after a revised 0.6 percent drop in the prior three months, figures from the Labor Department showed today in Washington. The median estimate of 60 economists surveyed by Bloomberg News projected a 0.9 percent decrease. Expenses per employee climbed at a 2.2 percent rate.