<H3>• U.S. Productivity and Labor Costs – Q1 2014</H3>

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Nonfarm business sector labor productivity decreased at a 3.2 percent annual rate during the first quarter of 2014, as hours increased 2.2 percent and output decreased 1.1 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) The decrease in productivity was the largest since the first quarter of 2008 (-3.9 percent). From the first quarter of 2013 to the first quarter of 2014, productivity increased 1.0 percent as output and hours worked rose 2.8 percent and 1.7 percent, respectively. Unit labor costs in nonfarm businesses increased 5.7 percent in the first quarter of 2014, due to both the decline in productivity and a 2.3 percent increase in hourly compensation. Unit labor costs increased 1.2 percent over the last four quarters. See the complete report at this link: USDOL-BLS

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