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View All NewsReport: Productivity up despite fewer hours
U.S. productivity rose in 2009, but a jobless productivity recovery is likely, The Conference Board reported today.
U.S. productivity rose 2.5% in per hour terms in 2009, according to The Conference Board. The increase comes as a reduction in the number of hours worked offset a decline in output.
However, European productivity fell 1%.
"U.S. employers have reacted much more strongly to the recession than their European counterparts in terms of cutting jobs and hours," said Bart van Ark, chief economist at The Conference Board. "In 2010, both Europe and the United States will see higher productivity growth coming out of recession. However, a jobless productivity recovery is the most likely scenario in both regions."