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November 02, 2006
Productivity Growth Stalls, Labor Costs Rise

Productivity was unchanged during the third quarter of 2006, according to a report by the Department of Labor's Bureau of Labor Statistics.

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The bureau also reported revised productivity data for the second quarter. The bureau said productivity grew at an annual rate of 1.2 percent in the second quarter, down from 1.6 percent in an initial estimate.

In the third quarter, output grew at an annual rate of 1.6 percent. Hours also increased 1.6 percent, reflecting 0.8-percent gains in both employment and average weekly hours at work.

Meanwhile, hourly compensation increased at a 3.7 percent annual rate in the third quarter of 2006. When the rise in consumer prices is taken into account, real hourly compensation rose 0.7 percent during the July-September period. During the second quarter of 2006, real hourly compensation had increased 1.6 percent.

Unit labor costs grew 3.8 percent during the third quarter of 2006, after rising 5.4 percent in the second quarter.

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