U.S. Productivity Falls for Second Straight Quarter
Rapidly rising labor costs add to inflation pressures as the Federal Reserve attempts to slow price increases
U.S. nonfarm labor productivity—a measure of goods and services produced in the U.S. per hour worked—fell at a seasonally adjusted annual rate of 4.6% in the second quarter from the prior quarter, the Labor Department said Tuesday. Economists surveyed by The Wall Street Journal had estimated a drop of 5%.