∙ U.S. Productivity Declines 0.5% in First Quarter 2012; Unit Labor Costs Rise 2.0%

---

Nonfarm business sector labor productivity decreased at a 0.5 percent annual rate during the first quarter of 2012. The decline in productivity reflects increases of 2.7 percent in output and 3.2 percent in hours worked. (All quarterly percent changes are seasonally adjusted annual rates.) From the first quarter of 2011 to the first quarter of 2012, productivity increased 0.5 percent as output and hours worked rose 2.8 percent and 2.2 percent, respectively. Unit labor costs in nonfarm businesses increased 2.0 percent in the first quarter of 2012, while hourly compensation increased 1.5 percent. Unit labor costs rose 2.1 percent over the last four quarters. Source: USDOL

---