Investing.com - U.S. non-farm productivity rose more than initially expected in the third quarter, while unit labor costs declined 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 2.9% in the third quarter, above expectations for a gain of 2.7% and up from a preliminary estimate of a 1.9% increase.
The report also said unit labor costs fell by a seasonally adjusted 1.9% in the third quarter, compared to expectations for a 0.9% decline and down from an initial estimate of a 0.1% drop.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.21% to trade at 1.3067.
Meanwhile, U.S. stock index futures held on to mild gains. The Dow Jones Industrial Average futures pointed to an increase of 0.3% at the open, S&P 500 futures indicated a gain of 0.2%, while the Nasdaq 100 futures signaled a 0.1% advance.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 2.9% in the third quarter, above expectations for a gain of 2.7% and up from a preliminary estimate of a 1.9% increase.
The report also said unit labor costs fell by a seasonally adjusted 1.9% in the third quarter, compared to expectations for a 0.9% decline and down from an initial estimate of a 0.1% drop.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.21% to trade at 1.3067.
Meanwhile, U.S. stock index futures held on to mild gains. The Dow Jones Industrial Average futures pointed to an increase of 0.3% at the open, S&P 500 futures indicated a gain of 0.2%, while the Nasdaq 100 futures signaled a 0.1% advance.