August 27, 2020

(Washington D.C., Economic & Insurance News by Insurance Market 360 – www.insurancemarket360.com) – United States Bureau of Labor Statistic released the second quarter non-farm business sector labor productivity preliminary report on August 14, 2020.

According to the report, labor productivity increased by 7.3 percent while output decreased by 38.9 percent.   The 7.3 percent rise was the largest rise since the second quarter of 2009.

Hours worked faced a decrease of 43.0 percent. Changes are seasonally adjusted annual rates.

Nonfarm business sector annual rate for unit labor cost increased 12.2 percent in the second quarter of 2020. A 5.7 percent increase in unit labor cost was realized over the last four quarters.

The report includes additional data, analysis, insight, and information. The announcement can be viewed on the Bureau of Labor Statistic’s website.

Source: United States Bureau of Labor Statistic.

https://www.bls.gov/news.release/prod2.nr0.htm