WASHINGTON (AP) — U.S. companies got slightly more out of their workers this spring after scaling back on hiring. The modest 1.6 percent annualized gain in productivity from April through June signals employers may need to hire more if demand picks up.
The Labor Department said Wednesday that the increase followed a 0.5 percent decline in the January-March quarter, less than first estimated.
Productivity is the amount of output per hour worked. Rising productivity can boost corporate profits, but also slow job creation because it means companies are getting more from their current staff and don't need to add workers. Still, there are limits to how much companies can get from their existing work forces.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
