U.S. Labor Productivity Jumps More Than Previously Estimated In Q4

RTTNews | Pred 10 h 40 min
U.S. Labor Productivity Jumps More Than Previously Estimated In Q4

(RTTNews) - Labor productivity in the U.S. grew by more than previously estimated in the fourth quarter of 2024, according to a report released by the Labor Department on Thursday.

The report said labor productivity shot up by 1.5 percent in the fourth quarter compared to the previously reported 1.2 percent jump. Economists had expected the increase in labor productivity to be unrevised.

The stronger than previously estimated productivity growth came as the surge in output was upwardly revised to 2.4 percent from 2.3 percent, while the increase in hours worked was downwardly revised to 0.8 percent from 1.0 percent.

Meanwhile, the Labor Department said the spike in unit labor costs in the fourth quarter was downwardly revised to 2.2 percent from 3.0 percent. Economists had expected the jump in unit labor costs to be unrevised.

The downward revision to the surge in unit labor costs reflected the upward revision to labor productivity as well as a downward revision to hourly compensation.

The report said hourly compensation soared by 3.8 percent in the fourth quarter compared to the previously reported 4.2 percent spike.

Real hourly compensation, which takes changes in consumer prices into account, increased by 0.7 percent compared to the previously reported 1.1 percent jump.

The Labor Department also said the surge in labor productivity in the third quarter of 2024 was upwardly revised to 2.9 percent from 2.3 percent.

Revised data also showed unit labor costs slumped by 1.5 percent in the third quarter compared to the previously reported 0.5 percent increase.

read more
U.S. Wholesale Inventories Climb Slightly More Than Expected In January

U.S. Wholesale Inventories Climb Slightly More Than Expected In January

A report released by the Commerce Department on Thursday showed wholesale inventories in the U.S. increased by slightly more than expected in the month of January. The Commerce Department said wholesale inventories climbed by 0.8 percent in January after falling by a revised 0.4 percent in February.
RTTNews | Pred 10 h 12 min
U.S. Jobless Claims Dip More Than Expected To 221,000

U.S. Jobless Claims Dip More Than Expected To 221,000

With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits fell by more than expected in the week ended March 1st. The report said initial jobless claims dipped to 221,000, a decrease of 21,000 from the previous week's unrevised level of 242,000
RTTNews | Pred 10 h 44 min
U.S. Trade Deficit Soars To Record High In January

U.S. Trade Deficit Soars To Record High In January

Reflecting a spike by the value of imports, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened by more than expected in the month of January. The Commerce Department said the trade deficit surged to a record high of $131.4 billion in January from a revised $98.1 billion in December.
RTTNews | Pred 10 h 54 min
U.S. Weekly Jobless Claims Dip More Than Expected

U.S. Weekly Jobless Claims Dip More Than Expected

With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits fell by more than expected in the week ended March 3rd.
RTTNews | Pred 12 h 21 min
U.S. Factory Orders Jump Slightly More Than Expected In January

U.S. Factory Orders Jump Slightly More Than Expected In January

New orders for U.S. manufactured goods surged by slightly more than expected in the month of January, according to a report released by the Commerce Department on Wednesday. The report said factory orders shot up by 1.7 percent in January after falling by a revised 0.6 percent in December. Economists had expected factory orders to jump by 1.6 percent.
RTTNews | Pred 1 dňom
U.S. Services Index Unexpectedly Inches Higher In February

U.S. Services Index Unexpectedly Inches Higher In February

The Institute for Supply Management released a report on Wednesday showing an unexpected uptick by its reading on U.S. service sector activity in the month of February. The ISM said its services PMI inched up to 53.5 in February from 52.8 in January, with a reading above 50 indicating growth. Economists had expected the index to edge down to 52.6.
RTTNews | Pred 1 dňom
U.S. Private Sector Job Growth Falls Well Short Of Estimates In February

U.S. Private Sector Job Growth Falls Well Short Of Estimates In February

A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by much less than expected in the month of February. ADP said private sector employment rose by 77,000 jobs in February after climbing by an upwardly revised 186,000 jobs in January. Economists had expected private sector employment to grow by 140,000 jobs.
RTTNews | Pred 1 dňom