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U.S. Labor Productivity Jumps Slightly More Than Initially Estimated In Q3

Revised data released by the Labor Department on Thursday showed labor productivity in the U.S. increased by slightly more than initially estimated in the third quarter. The report also said unit labor costs rebounded by less than previously estimated.

The Labor Department said productivity surged up by 2.3 percent in the third quarter compared to the previously reported 2.2 percent spike. The upward revision to the pace of productivity growth matched economist estimates.

Meanwhile, the report said unit labor costs climbed by 0.9 percent in third quarter compared to the 1.2 percent jump previously reported. Economists had expected the increase in unit labor costs to be downwardly revised to 1.1 percent.

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