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A report released by the Labor Department on Wednesday showed labor productivity in the U.S. spiked by more than expected in the second quarter, while unit labor costs unexpectedly decreased.
The Labor Department said productivity shot up by 2.9 percent in the second quarter after rising by a revised 0.3 percent in the first quarter.
Economists had expected productivity to jump by 2.3 percent compared to the 0.4 percent increase that had been reported for the previous quarter.
The report also said unit labor costs fell by 0.9 percent in the second quarter after surging up by a revised 3.4 percent in the first quarter.
Labor costs had been expected to rise by 0.3 percent compared to the previously reported 2.9 percent spike in the first quarter.
