US: Productivity rises 1.5% in 2nd quarter 2017 (annual rate); unit labor costs rise 0.2%

"Nonfarm business sector labor productivity increased 1.5 percent during the  second quarter of 2017," the U.S. Bureau of Labor Statistics reported on Thursday.

Key takeaways:

• From the second quarter of 2016 to the second quarter of 2017, productivity increased 1.3 percent, reflecting a 2.8-percent increase in output and a 1.5-percent increase in hours worked.
• Unit labor costs in the nonfarm business sector increased 0.2 percent in the second quarter of 2017, reflecting a 1.8-percent increase in hourly compensation and a 1.5-percent increase in productivity.
• Unit labor costs decreased 0.2 percent over the last four quarters.