Investing.com - U.S. non-farm productivity rose less-than-expected in the final three months of 2011, 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 0.7% in the fourth quarter, missing expectations for a 1.0% increase.
The previous quarter’s figure was revised to a 1.9% gain from a previously reported 2.3% increase.
The report also said unit labor costs rose by a seasonally adjusted 1.2% in the fourth quarter, above expectations for a 0.9% gain.
The previous quarter’s figure was revised to a 2.1% drop from a previously reported 2.5% decline.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD down 0.31% to trade at 1.3119.
Meanwhile, U.S. stock future indices turned modestly higher after the release of the data. The Dow Jones Industrial Average futures pointed to a modest gain of 0.05%, S&P 500 futures rose 0.1%, while the Nasdaq 100 futures pointed to a 0.2% increase.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 0.7% in the fourth quarter, missing expectations for a 1.0% increase.
The previous quarter’s figure was revised to a 1.9% gain from a previously reported 2.3% increase.
The report also said unit labor costs rose by a seasonally adjusted 1.2% in the fourth quarter, above expectations for a 0.9% gain.
The previous quarter’s figure was revised to a 2.1% drop from a previously reported 2.5% decline.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD down 0.31% to trade at 1.3119.
Meanwhile, U.S. stock future indices turned modestly higher after the release of the data. The Dow Jones Industrial Average futures pointed to a modest gain of 0.05%, S&P 500 futures rose 0.1%, while the Nasdaq 100 futures pointed to a 0.2% increase.