Productivity Surges at Fastest Pace in Six Years

The Labor Department reported today that the productivity of U.S. workers grew in the second quarter at the fastest pace in almost six years as employers squeezed more out of remaining staff to bolster profits.

In the first quarter, productivity grew by just 0.3% but in the second quarter, it surged by 6.4%. This is bigger than expected and it will boost the second-quarter GDP revision.

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