From the Bureau Revised productivity data indicates that the seasonally adjusted annual rates of productivity growth in the third quarter were:
1.1 percent in the business sector, and
1.5 percent in the nonfarm business sector.
In both sectors, the downward revisions were due to declines in output that were larger than originally reported and smaller declines in labor hours.
Employment fell sharply for the second month in a row in November, and the unemployment rate rose to 5.7 percent. Nonfarm payroll employment dropped by 331,000, following an even larger decline in October. As was the case in October, job losses in November were widespread.
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