facebook
twitter
rss
account
search
search
 

Non-farm productivity data revised higher

Dec. 5, 2012 at 12:53 PM   |   Comments

WASHINGTON, Dec. 5 (UPI) -- Labor productivity in the non-farm business sector rose at a 2.9 percent annual rate for the third quarter, the U.S. Bureau of Labor Statistics reported.

The figure released Wednesday is revised from an earlier estimate of 2.2 percent. It reflects 4.2 percent growth in output and 1.3 percent growth in hours worked.

The department said unit labor costs for non-farm businesses fell 1.9 percent quarter to quarter, while hourly compensation rose 0.9 percent.

Over the past 12 months, unit labor costs were little changed, rising 0.1 percent.

Manufacturing sector productivity dropped 0.7 percent in the third quarter of 2012 compared with the second quarter with output down 0.7 percent and hours worked unchanged.

Among durable goods, productivity fell 1.6 percent, while it rose 0.2 percent in non-durable goods production.

Over the past 12 months, manufacturing productivity has risen 1.3 percent with output up 4 percent and hours worked up 2.6 percent.

Unit labor costs for manufacturers rose 3.2 percent from quarter to quarter and 1.5 percent from the third quarter of 2011, the department said.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Celebrity Couples of 2014 [PHOTOS]

Celebrity Couples of 2014 [PHOTOS]

Most Popular
1
Texas, N.D. oil push imports down
2
Australia orders Supacat special operations vehicles
3
Twinkies' Chicago facility to close
4
Scout attack helicopter demos firepower
5
Oil spill reported in North Dakota
Trending News
Video
x
Feedback