US Nonfarm Productivity Rises in Q3

Nonfarm worker productivity in the United States grew during the third quarter (Q3) of the year, data by the US Department of Labor showed on Tuesday.

This comes as the US economy, and especially the services sector, is recovering from the impacts of the Coronavirus crisis.

Hourly output per worker increased at a revised 4.6% annualized rate in Q3, from an initial estimate of 4.9%.

During Q2 of 2020, productivity increased by 10.6%, setting the best record since the beginning of 1971.

On an annual rate, productivity increased during Q3 by 4%.