U.S. weekly jobless claims fall; productivity improves in fourth quarter GlobeBusiness
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Recent Institute for Supply Management surveys showed measures of manufacturing and services sectors employment dropping in February. A report from the Fed on Wednesday showed “modest-to-moderate gains” in employment in a majority of the U.S. central bank’s districts in February. But data for the third quarter was revised down to show productivity rising at a pace of 1.8 per cent instead of the previously reported 2.2 per cent rate.
The release of the full fourth-quarter productivity report was delayed by a 35-day partial shutdown of the U.S. government that ended on Jan. 25. The lapse in funding affected the collection and processing of economic data by the Commerce Department.Compared to the fourth quarter of 2017, productivity increased at a rate of 1.8 per cent. Productivity grew 1.3 per cent in 2018, the strongest since 2010, after rising 1.1 per cent in 2017.
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