If the Commerce Department adjusts the growth rate of GDP downward for the first quarter of 2016, and the Bureau of Labor Statistics adjusts the number of hours worked upward for the first quarter of 2016, what will the Bureau of Labor Statistics do in terms of revising the figures on the growth rate of labor productivity for the first quarter of 2016?

Question

Charity Olson

Business

25 November, 19:59

If the Commerce Department adjusts the growth rate of GDP downward for the first quarter of 2016, and the Bureau of Labor Statistics adjusts the number of hours worked upward for the first quarter of 2016, what will the Bureau of Labor Statistics do in terms of revising the figures on the growth rate of labor productivity for the first quarter of 2016?

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Answers (1)

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Christopher Henry · Answer 1

Downward rate

Explanation:

The commerce department has adjusted the growth of GDP downward, and BLS has adjusted the labor working hours upward. The bureau of labor statistics has to report a downward trend in terms of growth of labor productivity for the first quarter of 2016. The downward trend in labor productivity growth will justify the decline in GDP growth.