Notizie economiche
10.12.2024

U.S. labour productivity rises as initially estimated in Q3

The revised data from the U.S. Labour Department revealed on Tuesday that nonfarm business sector labour productivity in the United States increased 2.2 per cent q-o-q in the third quarter of 2024, as output jumped 3.5 per cent q-o-q and hours worked climbed 1.2 per cent q-o-q (seasonally adjusted). That was in line with the preliminary estimate and matched economists’ expectations. In the second quarter of 2024, labour productivity rose 2.1 per cent q-o-q.

In y-o-y terms, labour productivity increased 2.0 per cent in the third quarter, as previously reported.

Meanwhile, unit labour costs in the nonfarm business sector in the third quarter advanced 0.8 per cent q-o-q compared to an initial estimate of a 1.9 per cent q-o-q gain and a revised 1.1 per cent q-o-q decline in the prior quarter (originally a 2.4 per cent q-o-q soar). Economists had forecast a 1.5 per cent q-o-q climb in third-quarter unit labour costs.

Unit labour costs quarterly gain reflected a 3.1-per cent q-o-q jump in hourly compensation (revised from a 4.2-per cent increase in the previous report) and a 2.2-per cent q-o-q advance in productivity.

Compared to the corresponding period of 2023, unit labour costs surged 2.2 per cent.

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