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Higher Wage Hope Hammered As American Worker Compensation Slumps

US labor productivity rose 3.0% QoQ in Q3, the biggest rise since Q3 2014. Great news, right? Not so much, as the rise in productivity comes at the expense of the wages of the American worker who saw unit labor costs (wages) decline 0.2% (against expectations of a 0.2% gain) - down for 2 straight quarters for the first time since 2014. Real compensation declined 1.1% YoY - falling for the fourth straight quarter.
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