Bloomberg (08/08/12) Alex Kowalski
U.S. productivity rose at a 1.6% annual rate in the second quarter, the U.S. Department of Labor reported today, as output of goods and services rose much faster than the amount of time employees worked. Second-quarter productivity was projected to rise 1.4%, according to the median forecast of 59 economists surveyed by Bloomberg News. DOL said output rose 2.0% in the April-to-June period, while hours worked increased at a slower 0.4% rate. That was down sharply from a 3.2% gain in hours worked during the first quarter. Unit-labor costs, meanwhile, slowed to a 1.7% increase from 5.6% in the first quarter. Hourly wages, after factoring out inflation, rose 2.6% to match the first-quarter gain. The drop in productivity at the start of 2012, pared with a slowdown in profits, may be prompting companies to focus on enhancing efficiency to curb costs, making a pickup in employment more difficult to spur.
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.