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Reply #43: Productivity up in summer while labor costs fell [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 07:50 AM
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43. Productivity up in summer while labor costs fell
http://hosted.ap.org/dynamic/stories/U/US_PRODUCTIVITY?...

WASHINGTON (AP) -- U.S. workers increased their productivity over the summer by the most in a year and a half but the gain was smaller than initially thought.

A more productive and less-costly work force can boost corporate profits. But unless companies see more demand, they're unlikely to step up hiring.

Productivity rose at an annual rate of 2.3 percent in the July-September quarter, the Labor Department said. That was slower than the 3.1 percent the government estimated a month ago. Labor costs fell at a 2.5 percent rate, a slightly larger decline than the 2.4 percent drop first estimated.

The downward revision reflected slower economic growth in the third quarter. The government said total output grew at an annual rate of 2 percent, less than the 2.5 percent initially estimated.
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