US Q3 Labor Productivity Grows at Fastest Pace in a Year

Cointime reports: US nonfarm business output rose at a 3.7% annualized rate in the third quarter, the fastest in a year, while hours worked edged up 0.1% and hourly compensation rose 2.9%, the Bureau of Labor Statistics said Thursday. Unit labor costs fell 0.7%, the first decline since the second quarter of 2025. The labor share of output dropped to 53%, the lowest since records began in 1947.