US: nonfarm productivity rises 0.7% in Q1 2018

Nonfarm business sector labor productivity increased 0.7 percent during the first quarter of 2018, the US Bureau of Labor Statistics reported this Thursday.

Key highlights:

   •  Output increased 2.8 percent and hours worked increased 2.1 percent.
   •  Unit labor costs in the nonfarm business sector increased 2.7 percent in the first quarter of 2018.
   •  Manufacturing sector labor productivity rose 0.5 percent in the first quarter of 2018.