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US Q2 nonfarm labor productivity on the rise

U.S. nonfarm labor productivity increased quarter over quarter by an annual rate of 0.9% during the second quarter as output rose 3.4% and hours worked gained 2.5%, preliminary data from the U.S. Bureau of Labor Statistics showed.

Labor productivity in the nonfarm sector increased at an annual rate of 0.1% in the first quarter, compared to the previously reported estimate of no change.

Year over year, labor productivity improved by 1.2% in the second quarter, as output climbed 2.7% while hours worked increased 1.5%.

Unit labor costs rose at an annual rate of 0.6% in the second quarter as hourly compensation increased at a 1.6% annualized rate. Year over year, unit labor costs slipped 0.2%.