MNI: 5 Things We Learned From Canadian Labor Productivity Data>

     OTTAWA (MNI) - The following are the key points from the third 

quarter data on the Canadian labor productivity released Wednesday by 

Statistics Canada: 

     - Labor productivity for Canadian businesses fell 0.6% in the third 

quarter after edging down 0.2% in the second quarter, the largest 

decline since the first quarter of 2015. 

     - Real GDP growth of businesses slowed to 0.3% from 1.2%, and hours 

worked increased 0.9% after rising 1.3% the previous quarter. 

     - Average hourly compensation rebounded 0.6% after contracting 0.9% 

in the second quarter. 

     - Rising hourly compensation combined with weaker productivity led 

to higher unit labor costs (ULC), which were up 1.2%, the largest gain 

since the first quarter 2015. 

     - On a sector basis, productivity was down in both goods (-0.3%) 

and services (-0.4%). The gain in hourly compensation was led by the 

goods industries (+1.1% versus +0.4% for services). Business output rose 

0.5% for services and 0.4% for goods. ULC rose 0.8% in services and 1.4% 

for goods-producing industries. 

--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 

[TOPICS: M$C$$$,MACDS$]