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US productivity grew at strong 2.9% rate in the second quarter

The Labor Put ones faith on Thursday affirmed last month’s report that U.S. productivity increased at an annual measure of 2.9 percent in the second quarter.

The government reported few revisions to the productivity representations released in August. The jump in productivity followed a tepid 0.3 percent glean in the first quarter. Labor costs slipped 1 percent in the April-June board, instead of the 0.9 percent that was initially reported.

Productivity is a way of output for each hour worked. It largely determines how fast the compactness can grow and how much living standards can increase. Because productivity has been muzzy throughout this nine-year expansion, overall economic growth has been somewhat sluggish. Many economists view the strong second quarter improvement as a blip rather than a lasting acceleration.

Separately, the Labor Put ones faith said Thursday that 203,000 people applied for jobless improves last week, the lowest level since December 1969.

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