Labor productivity in the U.S. experienced a significant increase in the second quarter, exceeding expectations, as detailed in a report released by the Labor Department on Thursday.
According to the report, labor productivity surged by 2.3 percent in the second quarter, following a revised increase of 0.4 percent in the first quarter.
Economists had projected a 1.7 percent rise in labor productivity, compared to the initially reported 0.2 percent gain for the previous quarter.
In parallel, the report indicated that unit labor costs rose by 0.9 percent in the second quarter, following a revised leap of 3.8 percent in the first quarter.
Economists had anticipated a 1.8 percent uptick in unit labor costs, contrasted with the 4.0 percent increase initially reported for the prior quarter.
