November 05, 2020 at 01:30PM
US Q3 prelim nonfarm productivity +4.9% vs +5.6% expected
US third quarter productivity
The turnaroud in labor costs is because low-wage workers who were furloughed during Q2 lockdowns returned to work, so the composition of the labor force changed. The lockdown and reopening makes it impossible to separate the signal from the noise in this data series.