Productivity grew by an annual rate of 4.7 percent in the third quarter of
2005, according a revised report by the Bureau of Labor Statistics of the U.S.
Department of Labor.
The bureau revised the third-quarter productivity data from 4.1 percent to
Output per hour of all persons increased 4.7 percent during the third quarter
of 2005, reflecting increases in output and hours of 4.8 percent and 0.1 percent,
respectively. In the previous quarter, productivity had risen 2.1 percent as
output grew 4.4 percent and hours increased 2.2 percent.
Hourly compensation grew 3.7 percent in the third quarter of 2005, following
the 0.9-percent rise in the second quarter (as revised). When the rise in consumer
prices is taken into account, real hourly compensation declined 1.4 percent
in the third quarter of 2005 and 3.1 percent one quarter earlier.
Unit labor costs fell 1.0 percent in the third quarter, similar to the previous
quarter, when they dropped 1.2 percent.