Investing.com - U.S. non-farm productivity fell less-than-initially-expected in the fourth quarter, while unit labor costs rose sharply, revised 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 1.9% in the fourth quarter, compared to expectations for a 1.6% drop and down from a preliminary estimate of a 2% increase.
The report also said unit labor costs jumped by a seasonally adjusted 4.6% in the fourth quarter, compared to expectations for a 4.3% increase and up from an initial estimate of 4.5%.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD rising 0.61% to trade at 1.3047.
Meanwhile, U.S. stock index futures held on to modest gains. The Dow Jones Industrial Average futures pointed to an increase of 0.25% at the open, S&P 500 futures indicated a gain of 0.2%, while the Nasdaq 100 futures signaled a 0.2% advance.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity fell by a seasonally adjusted 1.9% in the fourth quarter, compared to expectations for a 1.6% drop and down from a preliminary estimate of a 2% increase.
The report also said unit labor costs jumped by a seasonally adjusted 4.6% in the fourth quarter, compared to expectations for a 4.3% increase and up from an initial estimate of 4.5%.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD rising 0.61% to trade at 1.3047.
Meanwhile, U.S. stock index futures held on to modest gains. The Dow Jones Industrial Average futures pointed to an increase of 0.25% at the open, S&P 500 futures indicated a gain of 0.2%, while the Nasdaq 100 futures signaled a 0.2% advance.