Productivity levels surge to four-year high

The Bureau of Labor Statistics of the U.S. Department of Labor reported the highest quarterly preliminary productivity gains since the third quarter of 2003. Preliminary productivity growth for the third quarter of this year stood at 5.3 percent in the business sector and 4.9 percent in the nonfarm business sector, the largest since 9.1 percent and 10.4 percent gains, respectively, in 2003. Productivity growth is measured in output per hour of all persons.