The productivity of US workers grew in the second quarter, but at a sharply slower pace than at the beginning of the year, the US Labour Department reported today, reflecting the sluggish nature of the economic recovery.
Worker output per hour advanced by 1.1 per cent in the second quarter, down from the upwardly revised 8.6 per cent gain in the previous quarter and the weakest showing since the second quarter of 2001.
The fall in productivity reflected a much slower pace of economic output, as the amount of worker hours fell for a fifth straight quarter.
Output rose 0.5 per cent in the quarter, down from a 6.2 per cent increase in the first quarter, while hours worked fell 0.7 per cent.
Today’s report reflects recently released revisions to estimates of economic growth as well as employment and hours data.