US: Nonfarm business sector labor productivity increased 2.9% in Q2

"Nonfarm business sector labor productivity increased 2.9 percent during the second quarter of 2018," the U.S. Bureau of Labor Statistics reported on Wednesday.

Main highlights

• Output increased 4.8 percent and hours worked increased 1.9 percent.
• From the second quarter of 2017 to the second quarter of 2018, productivity increased 1.3 percent, reflecting a 3.5-percent increase in output and a 2.2-percent increase in hours worked.
• Unit labor costs in the nonfarm business sector decreased 0.9 percent in the second quarter of 2018, reflecting a 2.0-percent increase in hourly compensation and a 2.9-percent increase in productivity.
• Unit labor costs increased 1.9 percent over the last four quarters.