World News | US Productivity Increased at 4.6% Rate in Third Quarter
Get latest articles and stories on World at LatestLY. US productivity increased at a solid 4.6 per cent pace in the July-September quarter, slightly below the initial estimate, while labor costs fell at a slower pace.
Washington, Dec 8 (AP) US productivity increased at a solid 4.6 per cent pace in the July-September quarter, slightly below the initial estimate, while labor costs fell at a slower pace.
The third quarter increase in productivity was below the first estimate a month ago of a 4.9 per cent increase, the Labor Department reported Tuesday. Productivity had surged at a 10.6 per cent rate in the second quarter.
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Labour costs fell at a 6.6 per cent rate in the third quarter , a smaller drop than the 8.9 per cent decline estimated a month ago.
Productivity, the amount of output per hour of work, is the major factor determining living standards. As productivity rises, employers can pay their workers more without having to boost the price of their products. (AP)
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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)