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The U.S. economy is booming with efficiency. But that’s not the best news for the labor market. New numbers out Thursday showed that the economy is indeed booming as individuals become more efficient workers within their companies.

The Labor Department’s shutdown-delayed report shows third quarter productivity grew at the fastest pace in two years — a 4.9% annualized gain.

The current labor market appears strong on the surface, but there are big problems lurking underneath. Unemployment is still low at 4.2%, wage growth is steady, and the U.S. added a relatively healthy 139,000 roles in May according to the recent jobs ...

Forecasters believe U.S. employment numbers expanded modestly in December, extending a streak of labor market weakness that has prompted the Federal Reserve to cut interest rates several times.

Markets and policymakers will get their first new data on the labor market since the government shutdown that ended in November.

Policymakers are increasingly pointing to an immigration influx and a bolstered U.S. labor force as a main reason the economy did so well in 2023. The U.S. economy defied expectations last year by avoiding a widely predicted recession, with real gross ...