US Q2 non-farm productivity caps increase in unit labour costs

(Sharecast News) - US labour productivity outpaced economists' forecasts during the second quarter, reducing unit costs. According to the Department of Labor, in seasonally adjusted terms labour productivity grew at a quarterly annualised pace of 2.3% over the three months to June (consensus: 1.2%).

That kept the rate of increase in unit labour costs at 0.9% (consensus: 1.8%).

During the quarter, output expanded at a clip of 3.3% and hours worked by 1.0%, whilst hourly compensation increased by 3.3% and real hourly compensation by 0.4%.

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