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August 09, 2005
Productivity Gains Slow, Inflation-Adjusted Hourly Wages Fall

Productivity increased at an annual rate of 2.2 percent in the second quarter of 2005, as output increased 4.4 percent and hours of all persons rose 2.1 percent, according to the Bureau of Labor Statistics of the U.S. Department of Labor.

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In the first quarter, productivity grew at a 3.2 percent annual rate, the bureau reported in revised figures for the quarter.

Hourly compensation increased 3.5 percent in the second quarter of 2005, less than the 6.9-percent rise one quarter earlier. When the rise in consumer prices is taken into account, real hourly compensation fell 0.6 percent in the second quarter of 2005 after increasing 4.5 percent in the first quarter.

Unit labor costs increased 1.3 percent in the second quarter of 2005 after rising 3.6 percent during the first quarter.

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