Last Update: 16-Aug-13 09:43 ET
Nonfarm Labor Productivity Turns Positive in Second Quarter
After falling 1.7% for each of the previous two quarters, nonfarm labor productivity increased 0.9% in Q2 2013. The Briefing.com consensus expected no change in nonfarm productivity growth. Output levels rose 2.6% in the second quarter after falling 0.3% in Q1 2013. That was in-line with the Q2 2013 GDP report. Hours worked increased 1.7% in Q2. That was up from a 1.5% gain in the first quarter. Compensation increased 2.3%, but that did not offset the 5.9% decline from the first quarter. The rise in compensation and hours worked drove unit labor costs up 1.4% in Q2 after declining 4.2% in the first quarter. The consensus expected unit labor costs to fall 0.3%.
After falling 1.7% for each of the previous two quarters, nonfarm labor productivity increased 0.9% in Q2 2013. The Briefing.com consensus expected