Pre­lim­i­nary Pro­duc­tiv­ity Gain Beats Ex­pec­ta­tions

The Bond Buyer - - Market News - — Gary E. Siegel

Third quar­ter non­farm pro­duc­tiv­ity was up 3.0%, ahead of the 2.9% gain ex­pected and the largest in­crease since the third quar­ter of 2014.

Unit la­bor costs were up 0.5%, a smaller gain than the 0.6% rise ex­pected. Re­vi­sions to sec­ond quar­ter data were very mi­nor, with pro­duc­tiv­ity still up 1.5% and unit la­bor costs now up 0.3%, so the re­port was ba­si­cally as ex­pected.

Com­pen­sa­tion rose 3.5% in the third quar­ter af­ter an un­re­vised 1.8% gain in the sec­ond quar­ter, and was up 1.5% af­ter in­fla­tion ad­just­ment. Real com­pen­sa­tion rose 2.1% in the sec­ond quar­ter.

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