Productivity growth slows to 2.2 percent in spring
Made Popular Aug 8 2008
The efficiency of America’s workers grew in the spring at a slightly slower pace as companies sought to produce more with leaner work forces.
The Labor Department reported Friday that productivity _ the amount an employee produces for every hour on the job _ grew at an annual rate of 2.2 percent during the April-to-June quarter. That was down from a 2.6 percent growth rate logged in the first three months of this year.
Economists were expecting productivity to pick up slightly to a 2.7 percent pace in the spring.
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