MW: U.S. productivity climbs 1.9% in third quarter
By Jeffry Bartash
WASHINGTON (MarketWatch) -- The productivity of American businesses rose by 1.9% in the third quarter, marking the sixth increase in the last seven periods. Real output grew at an annualized rate of 3.0%, while hours worked rose 1.1%, the U.S. Labor Department reported Thursday. The unit cost of labor, meanwhile, fell 0.1%. Unit labor costs are 1.9% lower compared to one year ago. Compensation per hour rose 1.8%, but real compensation per hour, which adjusts for inflation, increased by a much smaller 0.4%.
