By Ovunc Kutlu
ANKARA (AA) - Nonfarm business sector labor productivity in the US increased 0.3% in the third quarter, below expectations, the Labor Department said Thursday.
The figure, which measures the change in labor efficiency when producing goods and services, was expected to show a quarterly gain of 0.6%.
Nonfarm labor productivity declined 1.4% in the third quarter compared to the same period last year.
Unit labor costs in the nonfarm business sector increased 3.5% in the third quarter from the previous quarter, according to the Labor Department.
The figure, which is the ratio of hourly compensation to labor productivity, rose 6.1% year-on-year.