Economy

US Labor Productivity Jumps More Than Expected In Q3

The Labor Department says the increase in productivity in the July-September quarter was double the 1.5 percent gain in the second quarter.

Washington, DC, November 2, 2017-Nonfarm business sector labor productivity increased 3.0% during the third quarter of 2017, the U.S. Bureau of Labor Statistics reported, as output increased 3.8% and hours worked increased 0.8%.

The report said hourly compensation surged up by 3.5% in the third quarter after climbing by 1.8% in the second quarter.

In parallel, hourly compensation was up by 3.5%, such that the rise in unit labour costs was limited to 0.5%. Increases in hourly compensation tend to increase unit labour costs, and increases in output per hour tend to reduce them.

The strong upturn in productivity, the amount of output per hour of work, is not expected to last.

The bigger than expected increase in productivity, a measure of output per hour, came as output saw another substantial increase but the pace of growth in hours worked slowed. Over the last four quarters, total manufacturing sector productivity increased 0.1% as output increased 1.2% and hours worked increased 1.1%.

Versus the same period one year ago, labour productivity was ahead by 1.5% but unit labour costs were 0.1% lower.

Ready to get started?



Like this

loading...
loading...

Latest


02 November 2017
Schlumberger NV (SLB) Given a $80.00 Price Target at Scotiabank
Considering that the stock daily volume of 11.33 million shares, this represents a pretty noteworthy trading in volume size. Currently, the Earnings to Price (Yield) is 0.006179, Earnings Yield is 2.42%, and Earnings Yield 5 year average is 7.01%.

02 November 2017
BSF Jawan Killed As Pak Rangers Attack Patrol In Jammu And Kashmir
The highest number of such violations took place in 2002 when 8376 incidents were reported and 2045 incidents were reported in 2003.

02 November 2017
Justice Department considers charging Russians for hacking
The charges being considered against the handful of suspected Russian hackers are not being pursued as part of Mr. Debbie Wasserman Schultz, D-Fla., and emails from the personal account of Clinton campaign manager John Podesta.

02 November 2017
Technical Indicators Alerts: Ally Financial Inc. (ALLY), Kinder Morgan, Inc. (KMI)
It represents a security's price that, if achieved, results in a trader recognizing the best possible outcome for his investment. The average is taken over a specific period of time, like 10 days, 20 minutes, 30 weeks, or any time period the trader chooses.

02 November 2017
Backstage News on Emma's Recent Release
The decision to release Emma, Young and Summer Rae was made on Friday, during Vince McMahon's routine budget meeting. As noted, WWE announced on Sunday that they have parted ways with Emma, Summer Rae and Darren Young.

02 November 2017
Conde Nast laying off 80, shutting down Teen Vogue print edition
Teen Vogue rose to surprise political prominence a year ago with its oppositional coverage of Donald Trump. Condé Nast is expected to complete its final round of cuts by next Thursday, WWD has learned.

02 November 2017
Jinnah's only daughter, Dina Wadia, passes away at 98
Reacting to the demise of country's founder's daughter, many people took to Twitter and expressed their condolences and grief. After marrying to a Parsi businessman she stayed in India and subsequently moved to the United Kingdom.

02 November 2017
Tony LaRussa to work with Red Sox
La Russa was an Major League Baseball manager for 33 seasons with the White Sox, Athletics, and Cardinals. His 2,728 wins as a skipper are third all-time behind only Connie Mack and John McGraw.

02 November 2017
AP govt announces Rs 2 crore reward for shuttler Kidambi Srikanth
Many people have approached me in the capacity of ex-Sports Minister to recommend his name for this year's Padma Shri award. I haven't played the senior national individual event for nearly four years. "So looking forward to it", Srikanth added.

02 November 2017
Arrest for Horrific Alleged Treatment of Roommate
The University of Hartford freshman boasted that she had succeeded in driving out Rowe, who she referred to as "Jamaican Barbie". To see more, visit WNPR News . "Justice is definitely happening", said Erin Walton, the event's organizer.