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US productivity jumps in third quarter

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US productivity jumps in third quarter

Productivity of US workers increased 3.0% in the third quarter.

The productivity of workers in the United States rose faster than at any time in the last 4 years, rising 3.0%, according to a report issued today by the Labor Department. 

This follows a 1.8% increase in the second quarter.

Analysts had expected a 2.8% increase, according to a poll by Reuters.

Output was the main driver of productivity gains, rising 4.7% during the quarter, while unit labor costs fell by 1.4%, emphasizing the lack of labor-related inflationary pressures in the economy.

Click here to read the report.

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