U.S. Worker Productivity Increases
Washington, D.C., United States (AHN) – Increased productivity by American workers pushed down labor costs for employers in the third quarter, according to the U.S. Bureau of Labor Statistics (BLS).
Labor cost reductions from employers squeezing more productivity from workers signals that inflation should stay low.
Worker costs fell for the fifth time in the past seven quarters as employee output per hour increased at a 1.9 percent annual rate.
Decreased costs from increased worker productivity will help companies boost profits for the year.
The BLS in a statement explained that “labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked by all persons, including employees, proprietors, and unpaid family workers.”
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