Non-farm productivity grew by only 1.7% in the United States in the fourth quarter of 2022 at an annualized rate, according to a second estimate from the Department of Labor which announced a rate of 3% in first reading a year ago. month.
This downward revision, stronger than what economists had anticipated, is explained both by a drop in production growth, to 3.1%, and an increase in the increase in the number of hours worked. , at 1.4%.
Taking into account a 4.9% increase in hourly wages (instead of 4.1% in the preliminary estimate), unit labor costs increased by 3.2% in the last quarter of 2022 (instead of 1.1 % at first reading).
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