US productivity increases 4.9% in third quarter

WASHINGTON (AP) — U.S. productivity increased in the July-September quarter but at a slower pace than in the second quarter. The Labor Department reported Thursday that productivity advanced 4.9% in the third quarter, following an even larger 10.6% surge in the second quarter. Labor costs fell by 8.9% in the third quarter after rising by 8.5% in the second quarter. Productivity measures the amount of output per hour of work and is a key component in rising living standards.The post US prod