Real US hourly compensation growth still in the red during the third quarter

US labor costs slipped unexpectedly during the third quarter, as wages grew more slowly than anticipated. In annualised terms, non-farm labour productivity increased at a quarter-on-quarter clip of 3.0%, unchanged from a preliminary estimate, whereas hourly compensation rose by 2.7%, resulting in a 0.2% dip in unit labour costs, according to the Department of Labor. Economists had projected a 3.2% rate of increase in productivity and a 0.3% rise in labour costs. Versus a year-ago, productivity ...

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