US Q1 worker productivity revised to 0.2% annualized rate, unit labor costs at 4.0%; unlikely to change Fed's rate cut stance.

US worker productivity grew slightly less than previously estimated at 0.2% annualized rate in Q1, exceeding market expectations, while unit labor costs rose by less than first thought at 4.0% annualized rate. These revisions are unlikely to sway the Federal Reserve's hesitancy to adopt rate cuts. Productivity and labor costs had accelerated in 2023, finishing at 3.5% and unchanged, respectively, in Q4.

June 06, 2024
4 Articles

Further Reading