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US Productivity and Costs - Third Quarter 2024, Revised
Nonfarm business sector labor productivity increased 2.2 percent in the third quarter of 2024, the U.S. Bureau of Labor Statistics reported today, reflecting no revision from the preliminary estimate. Output and hours worked were also unrevised, increasing 3.5 percent and 1.2 percent respectively. (All quarterly percent changes in this release are seasonally adjusted annualized rates.) From the same quarter a year ago, nonfarm business sector labor productivity increased 2.0 percent in the third quarter of 2024, as previously reported. (See tables A1 and B1.) Unit labor costs in the nonfarm business sector were ... (full story)