THE VIRGINIAN-PILOT Copyright (c) 1995, Landmark Communications, Inc. DATE: Thursday, March 9, 1995 TAG: 9503090398 SECTION: BUSINESS PAGE: D1 EDITION: FINAL TYPE: Daily Digest LENGTH: Short : 23 lines
The productivity of American workers grew by 2.2 percent in 1994, but was slowing at year's end. The Labor Department said that the growth in nonfarm productivity last year followed a 1.5 percent gain in 1993. Productivity - output per number of hours worked - is a key measure of the nation's living standards and business competitiveness. Unit labor costs - typically two-thirds of the cost of a product and a key measure of inflation - edged up 0.9 percent after rising 1.7 percent a year earlier. It was the smallest increase since 0.8 percent in 1964. (Associated Press) by CNB