- Labor productivity declined 5.2% from the previous three-month period, worse than the Dow Jones estimate for a drop of 5%.
- That was the biggest quarterly decline since the second quarter of 1960.
Labor productivity fell at the fastest rate in more than 60 years in the third quarter, according to a Labor Department report Tuesday.
A measure of output versus energy, nonfarm business sector productivity declined 5.2% from the previous three-month period, worse than the Dow Jones estimate for a drop of 5%, and the worst since the second quarter of 1960. The slide happened as output increased 1.8% while hours worked rose 7.4%.
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