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Financial News: U.S. Labor Productivity Growth Unrevised In Q2

U.S. Labor Productivity Growth Unrevised In Q2

09/05/2019 - 08:52:00 (RTTNews)

(RTTNews) - A report released by the Labor Department on Thursday showing labor productivity growth in the second quarter was unrevised from the initial estimate, although the report also showed an upward revision to labor cost growth.

The Labor Department said productivity increased by 2.3 percent in the second quarter, unchanged from the preliminary estimate. Economists had expected the pace of productivity growth to be downwardly revised to 2.2 percent.

Meanwhile, the report said the increase in unit labor costs in the second quarter was upwardly revised to 2.6 percent from 2.4 percent. Labor cost growth had been expected to be upwardly revised to 2.6 percent.

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