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U.S. Labor Productivity Climbs More Than Expected In Q2

The Labor Department released a report on Thursday showing U.S. labor productivity increased by more than anticipated in the second quarter.

The report said labor productivity climbed by 2.3 percent in the second quarter after surging up by a revised 3.5 percent in the first quarter.

Economists had expected productivity to increase by 1.5 percent compared to the 3.4 percent jump that had been reported for the previous month.

The Labor Department also said unit labor costs spiked by 2.4 percent in the second quarter after soaring by a revised 5.5 percent in the first quarter.

Labor costs had been expected been expected to surge up by 2.0 percent compared to the 1.6 percent slump that had been reported for the previous quarter.

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