Labor productivity growth in the U.S. slowed in the third quarter, according to a report released by the Labor Department on Thursday, with the report also showing a rebound in unit labor costs.
The Labor Department said labor productivity climbed by 2.2 percent in the third quarter after jumping by 3.0 percent in the second quarter. Economists had expected productivity to increase by about 2.0 percent.
Meanwhile, the report said unit labor costs surged up by 1.2 percent in the third quarter after slumping by 1.0 percent in the second quarter. The rebound in labor costs matched economist estimates.