Construction workers at a project in the Upper East Side neighborhood of Manhattan, NY on Oct. 6th, 2023.The cost of labor unexpectedly declined in the third quarter, providing at least some relief in the inflation front, theUnit labor costs, a measure of hourly compensation against productivity, fell 0.8% for the July-through-September period at a seasonally adjusted rate. Economists surveyed by Dow Jones had been looking for a gain of 0.7%. On a 12-month basis, unit labor costs increased 1.9%.
That increase in productivity also was more than expected, beating the Dow Jones estimate for a gain of 4.3% for the biggest quarterly gain since the third quarter of 2020. Output increased 5.9%, while hours worked rose 1.1%.
Entertainment Entertainment Latest News, Entertainment Entertainment Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: NBCDFW - 🏆 288. / 63 Read more »