U.S. productivity stays solid as hours worked fall

U.S. firms cut back their employees' working hours in the second quarter, keeping productivity growth relatively high, according to Labor Department data released Friday.

Inflationary pressures were subdued, the data showed, with real hourly compensation falling -- a hopeful sign for the fight against inflation, but troubling for economic growth.

Productivity in the nonfarm business sector rose a 2.2% annualized rate in the second quarter, a bit slower than the 2.7% rate that economists surveyed by MarketWatch had been looking for.

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- Posted: 2008-08-08 09:08:36

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