U.S. productivity was a bit higher in the fourth quarter of 2011 than originally stated, but the cost of producing goods and services climbed due to a significant rise in hourly wages, according to revised data from the U.S. Department of Labor. DOL reported that productivity rose 0.9% in the final three months of 2011, up from an earlier prediction of 0.7%. Meanwhile, hours worked rose 2.7%, a bit less than the initial 2.9% prediction. However, inflation-adjusted hourly wages rose 2.8%, sharply higher compared with the initial estimate of 1.9%. As a result, unit-labor costs also rose 2.8% instead of 1.2% as previously estimated.
Say Goodbye to Mundane Tasks and Hello to Efficiency
Are you accustomed to using a plethora of resources to recruit the right candidates? Our research shows that the average firm spends around five hours logging in and out of systems to source candidates to fill one job. We’re excited to announce the next level in candidate sourcing: CareerBuilder Talent Discovery, a platform that has everything in one place. Stop by CareerBuilder’s booth next week at Staffing World to learn more—Booth 813 in the expo hall.