Labor productivity in the U.S. plunged by even more than initially estimated in the third quarter, according to revised data released by the Labor Department on Tuesday.
The Labor Department said labor productivity tumbled by 5.2 percent in the third quarter compared to the previously reported 5.0 percent nosedive. Economists had expected the slump in productivity to be revised to 4.9 percent.
The steep drop in productivity, a measure of output per hour, came as hours worked spiked by 7.4 percent compared to a 1.8 percent jump in output.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.