This is no surprise since GDP grew so rapidly in Q3, but productivity was up sharply too:
We've now had two quarters in a row of strong productivity growth. This doesn't tell us much about the health of the economy right now, but it's good long-term news since productivity growth is the core of long-term prosperity.
Monthly changes in productivity don't mean much. Just because somebody can crank a number out every month doesn't mean that the change from last month is significant. Labor productivity is subject to lags in hiring and firing and other uncertainties
Looking at the whole range that Kevin shows: a) there is no real trend - month/month variations can go either way; and b) there is little if any net improvement over this interval. That is not really encouraging. Productivity trends over years are important, but recent extreme variations in unemployment and other things make predictions very uncertain.
I had been worried that the big programs Biden got passed would cause inflation to go back up or at least stop falling, but high productivity increases indicate that won't happen. I guess it also explains the disappointing employment numbers last month.