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WASHINGTON (Reuters) -The U.S. Labor Department on Friday corrected productivity data from 2019 through 2023 after a computation error in off-the-clock hours worked ratios biased downward the labor hours levels underlying the productivity and costs data published last month. Worker productivity increased at a 3.3% annualized rate in the fourth quarter, corrected from the previously reported 3.2% pace. Rising worker productivity is helping to contain labor costs for businesses, which ultimately could lead to lower inflation over time.
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