Q2 Productivity Growth Revised To 4.3%, Labor Costs Revised Downward

(RTTNews) - Thursday morning, the Department of Labor released its revised report on productivity and unit labor costs in the second quarter, showing a bigger than expected upward revision to productivity growth along with a notable downward revision to costs.

The report showed that the pace of productivity growth in the second quarter was upwardly revised to 4.3 percent from the 2.2 percent previously reported. Economists had expected productivity growth to be revised up to about 3.5 percent.

The Labor Department added that unit labor costs for the quarter were revised to show a decrease of 0.5 percent compared to the previously reported 1.3 percent increase.

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