Nonfarm business sector labor productivity increased at a 2.3% annual rate during the second quarter of 2013, the U.S. Bureau of Labor Statistics stated in its revised report this morning. The prior estimate of labor productivity in the second quarter was 0.9%.

Labor productivity growth in the first quarter was unrevised from the previously estimated 1.7% decrease. From Q2 2012 to Q2 2013, labor productivity has increased 0.3%.

US Labor Productivity

Unit labor costs in nonfarm businesses increased at an annual rate of 0.0% in the second quarter of 2013. This is a decrease from the initial estimate of 1.4% for the second quarter.

Unit labor costs in the first quarter were revised from a 4.2% decrease to a 3.5% decrease. From the same quarter a year ago, unit labor costs are up 1.5%.

US Unit Labor Costs Q2 2013 Revised 600x375 Labor Productivity Increases, Unit Labor Costs Falling

Full table:

US Productivity and Costs Table Q2 2013 Revisions 600x409 Labor Productivity Increases, Unit Labor Costs Falling