U.S. Labor Productivity Surges More Than Expected In Q4

By RTTNews Staff Writer ✉ | Published: 2/2/2023 8:47 AM ET

A report released by the Labor Department on Thursday showed U.S. labor productivity surged by more than expected in the fourth quarter of 2022.

The Labor Department said labor productivity spiked by 3.0 percent in the fourth quarter after jumping by an upwardly revised 1.4 percent in the third quarter.

Economists had expected labor productivity to shoot up by 2.4 percent compared to the 0.8 percent increase that had been reported for the previous quarter.

The report also showed unit labor costs jumped by 1.1 percent in the fourth quarter after surging by a downwardly revised 2.0 percent in the third quarter.

Unit labor costs were expected leap by 1.5 percent compared to the 2.4 percent spike that had been reported for the previous quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Biotech Stocks Facing FDA Decision In March 2023

Biotech Stocks Facing FDA Decision In February 2023

Biotech stocks Facing FDA Decision in January 2023

Editors Pick

United Airlines, Archer To Launch First Air Taxi Route In Chicago

United Airlines and Archer Aviation Inc. announced plans to launch the first commercial electric air taxi route in Chicago, between O'Hare International Airport or ORD and Vertiport Chicago. As part of their urban air mobility or UAM network buildout, both companies will utilize Archer's electric vertical takeoff and landing or eVTOL aircraft in the new route.

Aunt Millie's Our Family White Hot Dog Buns Recalled

Fort Wayne, Indiana-based Perfection Bakeries D/B/A Aunt Millie's is recalling 8 ct. packages of Our Family White Hot Dog Buns citing the possible presence of undeclared sesame, a known allergen, the U.S. Food and Drug Administration said. The product comes in a printed plastic package marked with "Our Family Hot Dog Buns 8 ct." on the top and has a blue twist tie.

Ascend Labs Recalls Oral Anticoagulant Dabigatran Etexilate Capsules

Parsippany, New Jersey -based Ascend Laboratories LLC. is recalling Dabigatran Etcxilate capsules citing the detection of N-Nitrosodimethylamine or NDMA impurity, a probable human carcinogen, the U.S. Food and Drug Administration said. The product is used as an oral anticoagulant to lower the risk of stroke and blood clots.