Latest Business sector Stories

2009-08-11 10:02:01

The U.S. Labor Department said non-farm productivity shot up in the second quarter, as work hours continued to fall faster than output. Productivity gained 6.4 percent on an annual basis in the non-farm business sector, the sharpest gain since the third quarter of 2003. Per unit labor costs, meanwhile, plummeted 5.8 percent, the steepest drop in eight years. By comparison, productivity outpaced labor costs in the first quarter, but production gained a revised 0.3 percent, while unit costs...

2009-03-05 10:23:39

Fourth-quarter U.S. productivity figures were revised sharply downward Thursday, the U.S. Bureau of Labor Statistics said. Productivity declined to an annual rate of 0.4 percent in the fourth quarter, with figures lowered 3.5 percentage points in the business sector and 3.6 percent in the nonfarm business sector from estimates released Feb. 5, the bureau said. Unit labor costs in the fourth quarter at 5.7 percent rose significantly over the Feb. 5 estimate of 1.8 percent Analysts had...

Word of the Day
  • A unit of saved energy.
Coined by Amory Lovins, chairman of the Rocky Mountain Institute as a contraction of negative watt on the model of similar compounds like megawatt.