Washington (dpa-AFX) – Preliminary data released by the Labor Department on Tuesday showed labour productivity in the US increased by much less than expected in the second quarter.
The Labor Department said labour productivity jumped by 2.3 per cent in the second quarter after soaring by a downwardly revised 4.3 per cent in the first quarter.
Economists had expected productivity to surge up by 3.5 per cent compared to the 5.4-per-cent spike that had been reported for the previous quarter.
The report also showed unit labour costs climbed by 1.0 per cent in the second quarter, just shy of economist estimates for an increase of 1.1 per cent.
Meanwhile, the 1.7-per-cent jump in labour costs previously reported for the first quarter was revised to a 2.8-per-cent decrease.
