US labour productivity and unit labour costs improve less than expected in Q2
By Alexander Bueso
Date: Tuesday 09 Aug 2022
(Sharecast News) - US non-farm labour productivity and unit labour costs improved by less than expected during the second quarter.
According to the Department of Labor, productivity fell at a quarter-on-quarter annualised rate of 4.6% over the three months to June (consensus: -4.5%).
That was the result of a 2.1% decline in output, even as the number of hours worked increased by 2.6%.
Hourly compensation meanwhile was ahead by 5.7%, such that unit labour cost growth slowed from 12.6% to 10.8%, falling shy of the slowdown to 9.9% anticipated by economists.
In comparison to the year earlier quarter, productivity was off by 2.5% and hourly compensation up by 6.7%, such that unit labour costs were 9.5% higher.
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