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U.S. Labor Productivity Surges More Than Expected In Q3
(RTTNews) - Labor productivity in the U.S. shot up by more than expected in the third quarter of 2023, according to a report released by the Labor Department on Thursday.
The Labor Department said labor productivity soared by 4.7 percent in the third quarter after surging by a revised 3.6 percent in the second quarter.
Economists had expected productivity to spike by 4.2 percent compared to the 3.5 percent jump that had been reported for the previous quarter.
Meanwhile, the report said unit labor costs fell by 0.8 percent in the third quarter after shoot up by a revised 3.2 percent in the second quarter.
Unit labor costs were expected to climb by 0.7 percent compared to the 2.2 percent increase that had been reported for the previous quarter.
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U.S. Consumer Sentiment Rebounds Less Than Previously Estimated In December
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U.S. Annual Consumer Price Growth Unexpectedly Slows In November
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U.S. Jobless Claims Decrease Roughly In Line With Estimates
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Philly Fed Index Unexpected Slumps To -10.2 In December
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U.S. Consumer Prices Increase Modestly Over Two Months From September-November
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U.S. Weekly Jobless Claims Decrease To 224,000
A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits declined roughly in line with economist estimates in the week ended December 13th.
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