Revised data released by the Labor Department on Thursday showed U.S. labor productivity increased by less than previously estimated in the second quarter.
The report said labor productivity advanced by 2.1 percent in the second quarter compared to the previously reported 2.3 percent jump. Economists had expected the increase in labor productivity to be upwardly revised to 2.4 percent.
Meanwhile, the Labor Department said the increase in unit labor costs in the second quarter was upwardly revised to 1.3 percent from 1.0 percent. The increase in labor costs was expected to be downwardly revised to 0.9 percent.