Reported 6 months ago
U.S. worker productivity growth for Q1 of 2024 was revised down to 0.2%, lower than the initial estimate of 0.3%. Unit labor costs also rose less than previously thought at a rate of 4.0%, down from the initial estimate of 4.7%. Despite exceeding market expectations, the revision is unlikely to prompt Federal Reserve rate cuts in the near term as productivity growth slowed in the first quarter.
Source: YAHOO