Thursday, September 1, 2011

Productivity Fell 0.7% in 2Q 2011

Nonfarm business productivity fell 0.7% in the second quarter on a seasonally adjusted annualized basis, according to the Bureau of Labor Statistics report released this morning. This represents a trend of two consecutive quarters of declining productivity, following 8 quarters of productivity growth.

The unit labor costs increased in the second quarter by 3.3%.

Productivity growth has slowed notably from its rapid pace earlier in the recovery, and unit labor costs remain well below their peak in late 2008.

Read the release.

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