Unit labor costs declined at a 0.2% rate as productivity rose faster than hourly compensation for workers
WASHINGTON—U.S. worker productivity rebounded in the third quarter while hourly wages rose moderately, further signs the economy is strengthening.
Productivity—a measure of goods and services produced in the U.S. per hour worked—rose at a 3% annual rate in July through September, the Labor Department said Wednesday, the biggest jump in three years. The estimate, the agency’s second, reaffirmed its initial take on third-quarter productivity, released last month.