P.M. BRIEFING : Workers’ Productivity Up 1.5%
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WASHINGTON — The productivity of American workers rose a revised 1.5% in the second quarter instead of 1.6% as was previously reported, the Labor Department said Tuesday.
The department, in a second look at the data, stood by the earlier report that showed there had been an increase in productivity in the three months, reversing a steady drop during the last 1 1/2 years.
In the first quarter, the department reported that productivity fell 1.9%.
Analysts, while agreeing that the increase was positive, had said that it mainly reflected the fact that fewer people had jobs. As companies shed staff, they eliminate the least efficient jobs first, raising productivity figures.
The new figures, closely watched by industry and government, are considered an important measure of the efficiency of the American economy and the ability of its workers to compete with their counterparts overseas.
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