U.S. Third Quarter Productivity Revised Up to 4.7%

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00005725-us-third-quarter-productivity-revised-up-/

By Rex Nutting, MarketWatch

Productivity of the U.S. nonfarm business sector surged at a 4.7% annual rate in the third quarter, the fastest rate in two years, the Labor Department said Tuesday.

The fresh numbers are a revision to month-old numbers that showed productivity rose at a 4.1% pace.

Unit labor costs – a gauge of wage-push inflationary pressures – fell at a 1% annual pace in the quarter, revised down from a 0.5% decrease. Unit labor costs are the costs paid to workers to produce one “unit” of output.

For this complete story, please visit U.S. Third Quarter Productivity Revised Up to 4.7%.