U.S. labor productivity increased by slightly less than expected in the fourth quarter of 2011, with output gains outpacing an increase in hours worked.
According to statistics released Thursday by the Labor Department, fourth quarter worker productivity increased by 0.7 percent.
The increase was a reflection of a 3.6 percent increase in output, somewhat offset by a 2.9 percent increase in hours worked.
The overall productivity increase fell slightly short of the 0.8 percent increase predicted by most economists.
Despite the increase in productivity, unit labor costs increased by 1.2 percent in the fourth quarter as the productivity increase grew slower than the 1.9 percent increase in hourly compensation.
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