Royal Oak Tribune

Productivi­ty increases 4.9% in third quarter

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WASHINGTON » U. S. productivi­ty increased between July and September, but at a slower pace than in the previous quarter.

Productivi­ty advanced 4.9% in the third quarter, following an even larger 10.6% surge in the second quarter, the Labor Department reported Thursday.

Labor costs fell by 8.9% after rising by 8.5% in the second quarter.

Productivi­ty measures the amount of output per hour of work and is a key component in rising living standards.

Even with the third quarter slowdown, productivi­ty is higher than it has over much of the past decade. Productivi­ty grew by a modest 1.7% for all of last year after an even slower 1.4% gain in 2018.

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