U.S. third-quarter labour cost growth cut; productivity soft
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WASHINGTON (Reuters) - Growth of U.S. labour costs was not as robust as initially thought in the third quarter, suggesting inflation could remain tame in the near term.The sharp downward revision to labour costs, reported by the Labor Department on Tuesday, also pointed to some easing of the squeeze on profit margins. Corporate profits have been reduced by strong labour cost growth that has outpaced revenue. With worker productivity still sluggish, however, the pace of growth in labour costs is..