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US third quarter labour cost growth revised lower

By Alexander Bueso

Date: Tuesday 10 Dec 2019

US third quarter labour cost growth revised lower

(Sharecast News) - The productivity of American workers dipped during the third quarter, but unit labour costs rose by less than previously thought, revised data showed.
According to the Department of Labor, non-farm labour productivity in the States shrank at a quarterly annualised pace of 0.2% over the three months to September (consensus: -0.1%), as output per hour lagged the increase in the number of hours worked.

In comparison to the third quarter of 2018, productivity was nevertheless ahead by a still respectable 1.5%.

Unit labour costs meanwhile were up by 2.5% from the prior quarter (consensus: 3.4%) and by 2.2% versus the comparable period one year ago.

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