RTTNews - Wednesday morning, the Labor Department released its revised report on labor productivity in the second quarter, showing that productivity increased by more than previously estimated amid a smaller than expected drop in output.
The report showed that productivity increased by 6.6 percent in the second quarter compared to the 6.4 percent increase that was reported last month. Economists had been expecting productivity growth to be unchanged at 6.4 percent.
Additionally, the Labor Department said that unit labor costs decreased by a revised 5.9 percent in the second quarter compared to the previously reported 5.8 percent drop.
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