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US Productivity Increased At 4.6% Rate In Third Quarter

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FILE - In this June 11, 2020 file photo, workers on scaffolding lay blocks on one of the larger buildings at a development site where various residential units and commercial sites are under construction in Cranberry Township, Butler County, Pa. U.S. productivity increased at a solid 4.6% pace in the July-September quarter, slightly below the initial estimate, while labor costs fell at a slower pace. The Labor Department reported that the third quarter increase in productivity was below the first estimate a month ago of a 4.9% increase. (AP Photo/Keith Srakocic, File)

(AP) — U.S. productivity increased at a solid 4.6% pace in the July-September quarter, slightly below the initial estimate, while labor costs fell at a slower pace. The Labor Department reported Tuesday that the third quarter increase in productivity was below the first estimate a month ago of a 4.9% increase. Productivity had surged at a 10.6% rate in the second quarter. Labor costs fell at a 6.6% rate in the third quarter , a smaller drop than the 8.9% decline estimated a month ago.

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