US: Productivity rises 0.9% in 2nd quarter 2017; unit labor costs rise 0.6%

"Nonfarm business sector labor productivity increased 0.9 percent during the second quarter of 2017," the U.S. Bureau of Labor Statistics said on Wednesday.

Key highlights:

• Output increased 3.4 percent and hours worked increased 2.5 percent
• From the second quarter of 2016 to the second quarter of 2017, productivity increased 1.2 percent, reflecting a 2.7-percent increase in output and a 1.5-percent increase in hours worked
• Unit labor costs in the nonfarm business sector increased 0.6 percent in the second quarter of 2017, reflecting a 1.6-percent increase in hourly compensation and a 0.9-percent increase in productivity
• Unit labor costs decreased 0.2 percent over the last four quarters