Author: Elena Todorova
123jump.com
Last Update: 1:34 PM EST November 03 2005

U.S. business productivity surged in the third quarter according to a Labor Department report. Unit labor costs fell at an annual rate of 0.5%, vs. a forecast of a 2% gain in unit labor costs. Alan Greenspan testified before a congressional committee and Merck received a favorable verdict in a New Jersey Vioxx trial, A report released by the Labor Dept. showed that jobless claims fell to 323,000 from the previous- week revised figure of 331,000.