Nonfarm business sector labor productivity in the US fell 4.6% in the second quarter, the Labor Department said Tuesday.
The figure, which measures the change in labor efficiency when producing goods and services, was expected to show a quarterly decline of 4.7%.
On an annual basis, nonfarm labor productivity declined 7.4% in the first quarter compared to the same period last year, recording the largest annual decrease since the July-September period of 1947.
Unit labor costs in the nonfarm business sector rose 10.8% in the second quarter from the previous quarter, according to the Labor Department.
The figure, which is the ratio of hourly compensation to labor productivity, rose 9.5% year-on-year, its largest annual increase since the first quarter of 1982, it added. -
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