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Unit labor costs fall at quickest pace in four years
A gauge of labor-related costs fell in the first quarter by the most in four years, although the reading appeared to be distorted by a shift in employee compensation during the prior period to avoid a tax hike. Unit labor costs fell at a 4.3 percent annual rate during the period, revised readings from the Labor Department showed on Wednesday. The government had initially estimated a 0.5 percent gain, and the downward revision confounded analysts' expectations that the reading would remain unrevised. However, the government revised sharply higher its estimates for employee compensation during the fourth quarter after ... (full story)