U.S. Labor Productivity Falls More Than Previously Estimated In Q1

(RTTNews) - Reflecting a much bigger than previously estimated drop in output, the Labor Department released a report on Thursday showing that U.S. labor productivity fell by even more than expected in the first quarter of 2015.

The report said productivity tumbled by a revised 3.1 percent in the first quarter compared to the previously reported 1.9 percent decrease. Economists had expected a revised decrease of about 2.9 percent.

Additionally, the Labor Department said unit labor costs jumped by an upwardly revised 6.7 percent in the first quarter versus the previously reported 5.0 percent increase. Costs had been expected to surge up by a revised 6.0 percent.