Investing.com - U.S. non-farm productivity rose less-than-initially-expected in the first quarter, while unit labor costs fell sharply, revised data showed on Wednesday.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 0.5% in the first quarter, below expectations for a 0.7% gain and down from a preliminary estimate of a 0.7% increase.
The report also said unit labor costs fell by a seasonally adjusted 4.3% in the first quarter, confounding expectations for a 0.5% increase and down from an initial estimate of a 0.5% gain.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD rising 0.17% to trade at 1.3102.
Meanwhile, U.S. stock index futures remained lower. The Dow Jones Industrial Average futures indicated a loss of 0.4% at the open, S&P 500 futures pointed to a drop of 0.45%, while the Nasdaq 100 futures indicated a decline of 0.4% at the open.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 0.5% in the first quarter, below expectations for a 0.7% gain and down from a preliminary estimate of a 0.7% increase.
The report also said unit labor costs fell by a seasonally adjusted 4.3% in the first quarter, confounding expectations for a 0.5% increase and down from an initial estimate of a 0.5% gain.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD rising 0.17% to trade at 1.3102.
Meanwhile, U.S. stock index futures remained lower. The Dow Jones Industrial Average futures indicated a loss of 0.4% at the open, S&P 500 futures pointed to a drop of 0.45%, while the Nasdaq 100 futures indicated a decline of 0.4% at the open.