U.S. non-farm productivity grew faster than previously estimated in the third quarter as employers squeezed more output from workers and kept costs contained, a government report showed on Wednesday.
Productivity increased at an annual rate of 2.3 percent rather than the 1.9 percent pace reported last month, the Labor Department said, after contracting 1.8 percent in the second quarter.
The upward revision to third-quarter productivity, a measure of hourly output per worker that is viewed as an indicator of the economy's vitality or lack of it, matched economists' expectations.
I agree, employers are "squeezing more output" from workers. Lord knows wages aren't going up.
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