Investing.com - U.S. non-farm productivity fell more-than-expected in the fourth quarter of 2012, while unit labor costs rose sharply, official preliminary data showed on Thursday.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity fell by a seasonally adjusted 2% in the fourth quarter, compared to expectations for a decline of 1.3%.
The previous quarter’s figure was revised to a 3.2% gain from a previously reported 2.9% increase.
The report also said unit labor costs rose by a seasonally adjusted 4.5% in the fourth quarter, beating expectations for a 3% gain, after falling by a revised 2.3% in the third quarter.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.17% to trade at 1.3544.
Meanwhile, U.S. stock index futures pointed to a flat open. The Dow Jones Industrial Average futures were little changed, S&P 500 futures were flat, while the Nasdaq 100 futures signaled a flat open as well.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity fell by a seasonally adjusted 2% in the fourth quarter, compared to expectations for a decline of 1.3%.
The previous quarter’s figure was revised to a 3.2% gain from a previously reported 2.9% increase.
The report also said unit labor costs rose by a seasonally adjusted 4.5% in the fourth quarter, beating expectations for a 3% gain, after falling by a revised 2.3% in the third quarter.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.17% to trade at 1.3544.
Meanwhile, U.S. stock index futures pointed to a flat open. The Dow Jones Industrial Average futures were little changed, S&P 500 futures were flat, while the Nasdaq 100 futures signaled a flat open as well.