Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Photo: Travis Dove / Bloomberg via Getty Images
U.S. worker productivity fell in the fourth quarter of 2017, the first drop since early 2016, reports CNBC. The Labor Department said Thursday that the hourly output per worker fell at a 0.1% annualized rate in Q4, missing the estimated 1.0% gain that economists at Reuters had forecast.
Why it matters: The drop, which economists blamed on a shortage of workers, signals that the Trump administration's goal of growing the economy at a sustained 3% rate might be harder than previously thought.
By the numbers:
- U.S. worker productivity in Q4 2017: Fell at 0.1% annualized rate vs. 1.0% estimate. Productivity increased at a rate of 1.1% in Q4 of 2016.
- U.S. worker productivity in Q3 2017: Rose at a pace of 2.7% instead of the previously reported 3% rate.
- Overall productivity in 2017 increased 1.2%, the strongest performance since 2015, according to CNBC.