US labor productivity rose 2.2% in the third quarter

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Labor productivity in the United States, which does not include agriculture, increased by 2.2% in the third quarter. The US Department of Labor reported that the growth rate slowed compared with a rise of 3% in the previous quarter. Following the results of these two quarters, the growth rates of labor productivity became the highest since 2015. In the third quarter, the increase in labor costs by 1.2% was recorded in the country, while a quarter earlier, its decline was 1%. Goods and services for the quarter were produced by 4.1% more than in the second quarter. It was also noted an increase in the number of hours worked by 1.8% and an increase in hourly wages by 3.5%.

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