US 4th-Quarter Labor Costs Revised Higher; Productivity Growth Lowered

US 4th-Quarter Labor Costs Revised Higher; Productivity Growth Lowered
Workers guide steel beams into place at a construction site in San Francisco on Sept. 1, 2011. Robert Galbraith/Reuters
Reuters
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WASHINGTON—U.S. labor costs grew faster than initially thought in the fourth quarter, though the pace has slowed from the prior quarters.

Unit labor costs—the price of labor per single unit of output—accelerated at a 3.2 percent annualized rate last quarter, the Labor Department said on Thursday. That was revised up from the 1.1 percent pace reported last month.