U.S. productivity fell at 2 percent rate
WASHINGTON – U.S. worker productivity shrank in the final three months of 2012 although the decline was caused by temporary factors.
Productivity contracted at an annual rate of 2 percent in the October-December quarter, the biggest drop since the first quarter of 2011, the Labor Department reported Thursday. Productivity had risen at a 3.2 percent rate in the July-September quarter.
Labor costs rose at a 4.5 percent rate in the fourth quarter, the fastest gain since the first quarter of 2012.
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