Productivity Jumps 9.5% In Q3, Costs Fell 5.2%

Sponsored Links

Labor productivity increased by much more than expected in the third quarter, according to the preliminary report released by the Labor Department on Thursday, with the report also showing a bigger than expected decrease in labor costs.

The report showed that productivity increased by 9.5 percent in the third quarter following a revised 6.9 percent increase in the second quarter. Economists had expected productivity to rise by 6.5 percent compared to the 6.6 percent growth originally reported for the previous quarter.

Additionally, the Labor Department said unit labor costs fell 5.2 percent in the third quarter after falling by a revised 6.1 percent in the previous quarter. The drop in costs was far steeper than the 3.2 percent decrease expected by economists.

Labor productivity increased by much more than expected in the third quarter, according to the preliminary report released by the Labor Department on Thursday, with the report also showing a bigger than expected decrease in labor costs. (Market News Provided by RTTNews)