By Canadian Press

US productivity increases 4.9% in third quarter

Nov 5, 2020 | 7:18 AM

WASHINGTON — U.S. productivity increased between July and September but at a slower pace than in the previous quarter.

Productivity advanced 4.9% in the third quarter, following an even larger 10.6% surge in the second quarter, the Labor Department reported Thursday.

Labour costs fell by 8.9% in the third quarter after rising by 8.5% in the second quarter.

Productivity measures the amount of output per hour of work and is a key component in rising living standards.