The Bureau of Labor Statistics has just released its preliminary productivity and costs report for the third quarter of 2012.
Labor productivity rose at a seasonally adjusted annual rate of 1.9%, and is now up 1.5% year over year. In the previous quarter, labor productivity rose at a SAAR of 1.9% as well.
Unit labor costs actually fell in the third quarter at a SAAR of -0.1%. This compares to rates of 5.6% in the first quarter and 1.7% in the prior quarter. Unit labor costs are now up 1.1% Y/Y.