WASHINGTON (AP) — U.S. workers increased their productivity over the summer by the most in a year and a half but the gain was smaller than initially thought.
A more productive and less-costly work force can boost corporate profits. But unless companies see more demand, they're unlikely to step up hiring.
Productivity rose at an annual rate of 2.3 percent in the July-September quarter, the Labor Department said. That was slower than the 3.1 percent the government estimated a month ago. Labor costs fell at a 2.5 percent rate, a slightly larger decline than the 2.4 percent drop first estimated.
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