The US Labor Department corrects 2019-2023 productivity data due to computation error.

The US Labor Department corrected its productivity data from 2019 to 2023 due to a computation error. The error led to downward bias in labor hours levels, affecting all labor-related measures. Worker productivity increased at a 3.3% annualized rate in Q4, corrected from the previously reported 3.2%. The error affected data across all sectors, and the corrected data will be published on May 2, 2024.

April 26, 2024
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