Nonfarm Productivity (Feb. 3)

Nonfarm Productivity for the 4th quarter increased at a 2.6% annual rate, according to preliminary data from the BLS, higher than the expected 2.1% increase. Hours increased 1.8% and output increased 4.5%. Nonfarm productivity increased by 2.3% in the third quarter of 2010, after declining by 1.8% in the 2nd quarter and increasing by 3.9% in the 1st quarter of 2010. Productivity increased 1.7% over the last four quarters while annual average productivity increased 3.6% from 2009 to 2010. Unit Labor Costs decreased by 0.6% in the 4th quarter, based on preliminary data, against expectations that this measure would remain unchanged, following a 0.1% decrease in the figure reported in the 3rd quarter of 2010.

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