Canada Labor Productivity Fell 10.3% in 3Q

Canadian labor productivity plunged by 10.3% in the third quarter, where working hours rebounded faster than production business. This was the largest quarterly decline recorded.

Labor productivity declined 10.3% on a seasonally-adjusted basis in the third quarter, Statistics Canada said Wednesday, following 10%-plus gain in the previous three-month period. In contrast, U.S. labor productivity rose 1.6%. Market expectations were not immediately available.