IE Business Daily Business news for the Inland Empire.
National productivity dropped 3.1 percent during the first quarter of this year.
That drop was larger than 1.9 percent decline that was predicted in April, according to data released Thursday by the U.S. Department of Labor.
Labor costs also rose faster than expected in January, February and March: up 6.7 percent, well above the five percent originally projected, the labor department stated.
The economy hit a soft spot during the winter, contracting during the first quarter as measured by the gross domestic product.
Productivity – the amount of output per hour of work – has been down during the past few years, the report stated.
