(CercleFinance.com) – Non-agricultural productivity increased by 3.2% in the United States in the fourth quarter of 2023 at an annualized rate, according to the Department of Labor, which therefore confirms its preliminary estimate on second reading, after an increase of 4.7% in the previous quarter.
This new increase in productivity, very slightly higher than that anticipated by Jefferies, is based on a 3.5% growth in production which largely outweighed a 0.3% increase in the number of hours worked.
Taking into account this strong increase in productivity, but also a 3.6% increase in hourly wages, non-agricultural unit labor costs in the United States increased by 0.4% in the last quarter of 2023.
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