Productivity rose in third quarter

Nov. 3, 2011 at 1:29 PM   |   0 comments

WASHINGTON, Nov. 3 (UPI) -- Productivity in non-farm businesses rose at a 3.1 percent annual rate during the third quarter of 2011, the U.S. Bureau of Labor Statistics said Thursday.

From the third quarter of 2010 to the third quarter of this year, output increased 2.5 percent while hours worked rose 1.4 percent, yielding an increase in productivity of 1.1 percent, the Labor Department bureau said in a release.

BLS data indicated unit labor costs in non-farm businesses fell 2.4 percent in the third quarter because hourly compensation increased 0.6 percent while productivity rose 3.1 percent. During the last four quarters, hourly compensation increased more than per-hour output, and unit labor costs rose 1.2 percent, the bureau said.

Manufacturing sector productivity rose by 5.4 percent in the third quarter after falling 1.2 percent in the second quarter. For the third quarter in manufacturing, output rose 4.7 percent and hours fell 0.8 percent.

Productivity rose 9.9 percent in the durable goods sector after dropping 2.7 percent in the previous quarter. In the non-durable goods sector, productivity rose 0.7 percent.

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