(Bloomberg) -- U.S. productivity growth was greater than forecast last quarter and labor costs moderated, easing concern that a tight job market will fuel inflation.
Productivity, a measure of how much an employee produces for each hour of work, rose at an annual rate of 1.7 percent, the Labor Department said today in Washington, more than twice the pace projected by economists. The price of labor rose 0.6 percent pace after jumping 6.2 percent in the prior three months.
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