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ULC

Productivity Up, Unit Labor Costs Down

Productivity rose 6.4% in 2Q09 compared to a consensus forecast of 5.5%. This is the biggest gain since 2003.  The drop was due to the amount of hours worked declining faster than output. At the same time, unit labor costs fell -5.8% versus a consensus forecast of -2.8%. In face the of lay-offs and reduced […]