• U.S. Productivity and Labor Costs – Q2 2012

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Productivity: Nonfarm business sector labor productivity increased at a 1.6 percent annual rate during the second quarter of 2012. The increase in productivity reflects increases of 2.0 percent in output and 0.4 percent in hours worked. (Percent changes are seasonally adjusted annual rates.) From the second quarter of 2011 to the second quarter of 2012, productivity increased 1.1 percent as output and hours worked rose 2.9 percent and 1.8 percent, respectively. Labor Costs: Unit labor costs in nonfarm businesses increased 1.7 percent in the second quarter of 2012, while hourly compensation increased 3.3 percent. Unit labor costs rose 0.8 percent over the last four quarters. SOURCE: USDOL-BLS