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    US Productivity Increases 4.9% In Third Quarter

    US Productivity Increases 4.9% In Third Quarter

    U.S. productivity increased between July and September but at a slower pace than in the previous quarter.

    WASHINGTON: U.S. productivity increased between July and September but at a slower pace than in the previous quarter.

    Productivity advanced 4.9% in the third quarter, following an even larger 10.6% surge in the second quarter, the Labor Department reported Thursday.

    Labor costs fell by 8.9% in the third quarter after rising by 8.5% in the second quarter.

    Productivity measures the amount of output per hour of work and is a key component in rising living standards.

    Economists had expected a slowdown in the third quarter after the big second quarter gain.

    Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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