Under the Hood of Productivity Is Pickup in U.S. Labor Costs

One key takeaway of the Labor Department’s report on third-quarter productivity is a pickup in U.S. worker pay.

* Productivity rose at a revised 2.2 percent annualized rate (est. 2.2%), up from a prior estimate of 1.6 percent

* Unit labor costs climbed at a revised 1.8 percent rate (est. 1%) that was more than previously reported and followed a 2 percent gain in the second quarter that was also larger than last estimated

* Worker compensation adjusted for inflation rose 3.4 percent in the third quarter from the same time in 2014, the biggest year-to-year gain since the end of 2012

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