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

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
Analyst Stock Ratings: Calgon Carbon Corporation (CCC), Mitel Networks Corporation (MITL)
On a one to five ratings scale where 1.0 indicates a Strong Buy, 2.0 indicates a Buy, 3.0 a Hold, 4.0 a Sell and 5.0 a Stong Sell. CCC is now overvalued by 10.77% relative to the average 1-year price target of $19.50 taken from a group of Wall Street Analysts.

02 November 2017
Leon Goretzka wants Barcelona switch
Liverpool have been linked with German worldwide and Schalke midfielder Leon Goretzka for quite some time and the latest reports are intriguing.

02 November 2017
South Africa considering best time for nuclear power expansion
He is accused of being influenced by the wealthy Gupta family in making government appointments and awarding contracts by state-owned firms.

02 November 2017
$0.36 EPS Expected for Enbridge Inc (USA) (ENB)
BidaskClub lowered shares of Enbridge from a "sell" rating to a "strong sell" rating in a report on Friday, August 11th. Credit Suisse maintained the shares of ENB in report on Tuesday, March 8 with "Neutral" rating.

02 November 2017
Alibaba profit up 132% in 'outstanding' quarter
Revenue from Alibaba's fast-growing cloud computing business was 3.0bn yuan, up 99% but slowing from a 130% rise a year earlier. Alibaba is also seeing impressive growth in other areas, albeit that none are as lucrative as its Chinese commerce business.

02 November 2017
The Tutor Perini Corp. (TPC) Receives Consensus Recommendation of "Buy" from Analysts
Marc Majzner increased its stake in Tutor Perini Corp (TPC) by 29.99% based on its latest 2017Q2 regulatory filing with the SEC. Point72 Asset Mgmt Limited Partnership owns 0.19% invested in Intercept Pharmaceuticals Inc (NASDAQ:ICPT) for 285,600 shares.

02 November 2017
United States shares names of 20 terror groups with Pakistan
The minister, however, said that policies are being framed over recommendations of the National Security Committee and Parliament. Asif suggested USA administration for not devising Afghanistan policy based on recommendations from retired military officials.

02 November 2017
Google To Cut Off Data To Third-Party Travel Websites
In 2014, Google created a cheaper version of the QPX software, called QPX Express, meant to target smaller companies and startups. A spokeswoman for Priceline said the change won't affect the company's websites that offer flights.

02 November 2017
Yasiel Puig's Encino home burglarized shortly after Dodgers lose World Series
Another home of Puig's was burglarized back in March, in which $500,000 worth of jewelry was taken. The burglar grabbed jewelry and ran from the premises.



Recommended