WASHINGTON — U.S. workers were more productive in the April-June quarter and labor costs rose slightly, a sharp turnaround from grim first-quarter figures.
The Labor Department said Friday that that productivity increased 2.5 percent at a seasonally adjusted annual rate, after plummeting 4.5 percent in the first quarter. That was the steepest drop in 31 years, and reflected a sharp 2.1 percent contraction in the economy.
Economists blamed most of that shrinkage on temporary factors, such as harsh weather and a cutback in stockpiling by businesses.
Read Saturday’s Arkansas Democrat-Gazette for more on this story.