U.S. worker productivity
rebounded in the third quarter as economic growth accelerated and
companies kept payrolls lean, revised government figures showed.
Productivity, a measure of how much an employee produces for
every hour of work, rose at a 5.1 percent annual rate, the Labor
Department said. That compared with a 4 percent rise estimated
last month and a 1.7 percent pace in the second quarter.
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Productivity was 5.6 percent higher in July-September than it was
in the same three months last year, the biggest year-over-year
rise since the first quarter of 1973.
Investments in new equipment and software in the late 1990s
are paying dividends by helping companies produce more with fewer
workers. Efficiency gains are helping underpin profits and wages.
Auto-parts maker Federal-Mogul Corp. narrowed its third-quarter
loss because of more sales and greater efficiency.
Bloomberg News
