A report released by the Labor Department on Tuesday showed U.S. labor productivity continued to slump in the second quarter of 2022, while labor costs continued to soar.The Labor Department said labor productivity tumbled by 4.6 percent in the second quarter after plummeting by a revised 7.4 percent in the first quarter.Economists had expected productivity to plunge by 4.7 percent compared to the...
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.