December 2, 2016 / 1:42 PM / 2 years ago

UPDATE 1--Canada 3rd-qtr labor productivity rebounds on recovery from fires

(Adds details of release, background)

OTTAWA, Dec 2 (Reuters) - The labor productivity of Canadian businesses in the third quarter of 2016 jumped by 1.2 percent as the economy bounced back after the damage caused by a major wildfire in Alberta in May, Statistics Canada said on Friday.

Economists polled by Reuters had forecast a gain of 1.0 percent from the second quarter. Revised Statscan data showed second-quarter productivity had dropped by 0.2 percent compared with the initial 0.3 percent retreat.

Real gross domestic product of businesses rose by 1.0 percent in the third quarter after falling by 0.7 percent in the second quarter, pushed up by increased activity in the mining, quarrying and oil and gas extraction sector.

The number of hours worked on production in the business sector fell by 0.2 percent, a sign the recovery from the fire damage was not complete, Statscan said.

Overall labor costs per unit of production fell by 0.7 percent as the average pay per hour worked climbed by 0.5 percent and productivity rose by 1.2 percent.

Reporting by David Ljunggren; Editing by Jeffrey Benkoe

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