U.S. output declines
NZPA-Reuter Washington
Productivity in the private sector declined 2.1 per cent in the second quarter of 1980, the Labour Department has reported, the worst drop since the department started compiling statistics in 1947.
In the first quarter there was a decline of 0.3 per cent/ according’ to the department’s report.
The country’s productivity rate, particularly when compared with the rate for a number of other, countries, has often been considered a factor in its economic problems.
Although hourly ’C Ol ?' pensation increased by 1per cent in the second quarter, compared with 11.7. per cent in the first, inflation wiped out the gain. An increase in the consumer price index caused an actual decrease of 1.5 per cent. This marked the ninth consecutive quarterly decline. '
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Press, 30 July 1980, Page 9
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127U.S. output declines Press, 30 July 1980, Page 9
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