Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

U.S. productivity revised down to 0.7% decline

U.S. productivity revised down to 0.7% decline (by Jeffry Bartash)

WASHINGTON (MarketWatch) - U.S. productivity fell by an annual rate of 0.7% in the second quarter instead of a 0.3% drop as initially reported, the Labor Department said Thursday. Economists surveyed by MarketWatch had forecast that the revision would show a 0.6% decline on a seasonally adjusted basis. Worsening productivity stemmed mainly from higher costs for labor. Unit-labor costs jumped by an annual rate of 3.3% last quarter, up from an initial estimate of 2.2%. Also, output of goods and services rose just 1.3%, not 1.8% as first stated. The increase in hours worked remained the same at 2.0%. The hourly wages of workers, adjusted for inflation, fell 1.4% instead of 2.1%.