U.S. Third-Quarter Productivity and Cost Report (Text)
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The following is the text of the U.S. productivity and costs report for the third quarter released by the Labor Department.
Nonfarm business sector labor productivity increased at a 1.9 percent annual rate during the third quarter of 2012, the U.S. Bureau of Labor Statistics reported today. The increase in productivity reflects increases of 3.2 percent in output and 1.3 percent in hours worked. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the third quarter of 2011 to the third quarter of 2012, productivity increased 1.5 percent as output and hours worked rose 3.3 percent and 1.8 percent, respectively.