Investing.com - U.S. non-farm productivity rose less-than-expected in the third quarter, while unit labor costs unexpectedly declined, official preliminary data showed on Thursday.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 1.9% in the three months ended September, below expectations for an increase of 2.2%.
The previous quarter’s figure was revised to a 1.8% gain from a previously reported increase of 2.3%.
The report also said unit labor costs fell by a seasonally adjusted 0.6% in the third quarter, disappointing expectations for a 0.2% gain, after rising by 0.5% in the preceding quarter.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.2% to trade at 1.3458.
Meanwhile, U.S. stock index futures pointed to a mixed open. The Dow Jones Industrial Average futures pointed to a gain of 0.1%, S&P 500 futures indicated a rise of 0.2%, while the Nasdaq 100 futures signaled a decline of 0.15%.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 1.9% in the three months ended September, below expectations for an increase of 2.2%.
The previous quarter’s figure was revised to a 1.8% gain from a previously reported increase of 2.3%.
The report also said unit labor costs fell by a seasonally adjusted 0.6% in the third quarter, disappointing expectations for a 0.2% gain, after rising by 0.5% in the preceding quarter.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.2% to trade at 1.3458.
Meanwhile, U.S. stock index futures pointed to a mixed open. The Dow Jones Industrial Average futures pointed to a gain of 0.1%, S&P 500 futures indicated a rise of 0.2%, while the Nasdaq 100 futures signaled a decline of 0.15%.