US nonfarm productivity rises 0.3% in Q3, below expectation

ANKARA

Nonfarm business sector labor productivity in the US increased 0.3% in the third quarter, below expectations, the Labor Department said Thursday.

The figure, which measures the change in labor efficiency when producing goods and services, was expected to show a quarterly gain of 0.6%.

Nonfarm labor productivity declined 1.4% in the third quarter compared to the same period last year.

Unit labor costs in the nonfarm business sector increased 3.5% in the third quarter from the previous quarter, according to the Labor Department.

The figure, which is the ratio of hourly compensation to labor productivity, rose 6.1% year-on-year.