U.S worker productivity decreased in the first quarter of 2012 as productivity increases were outpaced by the number of hours worked, according to figures released Thursday by the Labor Department.
Department statistics showed a 2.7 percent increase in output at nonfarm businesses coupled with a 3.2 percent increase in hours worked, resulting in a 0.5 percent decline in labor productivity.
Most economists had expected a decline in productivity, though the consensus predicted a slightly smaller 0.4 percent drop.
by RTT Staff Writer
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