A report released by the Labor Department on Wednesday showed labor productivity in the U.S. spiked by more than expected in the second quarter, while unit labor costs unexpectedly decreased.
The Labor Department said productivity shot up by 2.9 percent in the second quarter after rising by a revised 0.3 percent in the first quarter.
Economists had expected productivity to jump by 2.3 percent compared to the 0.4 percent increase that had been reported for the previous quarter.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.