13:30 - Dados States
Enviado: 8/8/2006 13:538:30 AM ET 8/8/06 U.S. PRODUCTIVITY UP 2.4% Y-O-Y VS REV 2.7% IN Q1
8:30 AM ET 8/8/06 U.S. Q2 UNIT LABOR COSTS HIGHEST SINCE Q4 2004
8:30 AM ET 8/8/06 U.S. Q2 UNIT LABOR COST UP 4.2% VS 3.5% EXPECTED
8:30 AM ET 8/8/06 U.S. Q1 PRODUCTIVITY REVISED TO UP 4.3% FROM 3.7%
8:30 AM ET 8/8/06 U.S. Q2 PRODUCTIVITY RISES 1.1% VS. 0.9% EXPECTED
ECONOMIC REPORT: U.S. productivity up 1.1% in second quarter; Unit labor costs accelerate, another worry for Fed
By Greg Robb, MarketWatch
Last Update: 8:30 AM ET Aug 8, 2006
WASHINGTON (MarketWatch) - Productivity in the American workplace rose at a slower pace in the second quarter, but a key gauge of inflation accelerated, the Labor Department said Tuesday.
Non-farm productivity increased at a 1.1% annual rate in the second quarter. In the first quarter, productivity was revised to a 4.3% increase from 3.7% previously.
Unit labor costs - a key inflation gauge - increased 4.2% in the nonfarm business sector during the second quarter, the government's data showed. This is the fastest quarterly pace since the fourth quarter of 2004. In addition, revisions to previous quarters put unit labor costs on an accelerating trend.
Both productivity and unit labor costs were above expectations. Economists surveyed by MarketWatch had predicted productivity would rise 0.9%, while unit labor costs were expected to rise 3.5%.
In the past four quarters, productivity in the nonfarm sector has increased 2.4%, while unit labor costs are up 3.2%, the most since the final three months of 2000.
In the second quarter, output in the nonfarm business sector rose 2.5%. Hours worked rose 1.4%.
The increase in unit labor costs adds just another block to the wall of worry at the Federal Reserve. It raises concern that inflationary pressures cannot be held at bay.
Despite the poor data, the FOMC is widely expected to pause at its policy meeting today. This would be the first pause after 25 months of tightening. The FOMC decision will be released around 2:15 p.m. Eastern.
Productivity, defined as output per hour worked, is perhaps the most important long-term variable in economics.
Higher productivity can mean higher profits, wages and living standards. Productivity gains reduce inflationary pressure. But the concept is difficult to measure, especially in financial services where the concept is a "unit" of output is murky.
Therefore, Fed officials watch nonfinancial productivity carefully. These data are released with a one-quarter lag.
Adjusted for inflation, hourly compensation increased 0.4% in the second quarter
In the manufacturing sector, productivity increased at a 3.0% annual rate in the second quarter, while unit labor costs fell 1.2%.
8:30 AM ET 8/8/06 U.S. Q2 UNIT LABOR COSTS HIGHEST SINCE Q4 2004
8:30 AM ET 8/8/06 U.S. Q2 UNIT LABOR COST UP 4.2% VS 3.5% EXPECTED
8:30 AM ET 8/8/06 U.S. Q1 PRODUCTIVITY REVISED TO UP 4.3% FROM 3.7%
8:30 AM ET 8/8/06 U.S. Q2 PRODUCTIVITY RISES 1.1% VS. 0.9% EXPECTED
ECONOMIC REPORT: U.S. productivity up 1.1% in second quarter; Unit labor costs accelerate, another worry for Fed
By Greg Robb, MarketWatch
Last Update: 8:30 AM ET Aug 8, 2006
WASHINGTON (MarketWatch) - Productivity in the American workplace rose at a slower pace in the second quarter, but a key gauge of inflation accelerated, the Labor Department said Tuesday.
Non-farm productivity increased at a 1.1% annual rate in the second quarter. In the first quarter, productivity was revised to a 4.3% increase from 3.7% previously.
Unit labor costs - a key inflation gauge - increased 4.2% in the nonfarm business sector during the second quarter, the government's data showed. This is the fastest quarterly pace since the fourth quarter of 2004. In addition, revisions to previous quarters put unit labor costs on an accelerating trend.
Both productivity and unit labor costs were above expectations. Economists surveyed by MarketWatch had predicted productivity would rise 0.9%, while unit labor costs were expected to rise 3.5%.
In the past four quarters, productivity in the nonfarm sector has increased 2.4%, while unit labor costs are up 3.2%, the most since the final three months of 2000.
In the second quarter, output in the nonfarm business sector rose 2.5%. Hours worked rose 1.4%.
The increase in unit labor costs adds just another block to the wall of worry at the Federal Reserve. It raises concern that inflationary pressures cannot be held at bay.
Despite the poor data, the FOMC is widely expected to pause at its policy meeting today. This would be the first pause after 25 months of tightening. The FOMC decision will be released around 2:15 p.m. Eastern.
Productivity, defined as output per hour worked, is perhaps the most important long-term variable in economics.
Higher productivity can mean higher profits, wages and living standards. Productivity gains reduce inflationary pressure. But the concept is difficult to measure, especially in financial services where the concept is a "unit" of output is murky.
Therefore, Fed officials watch nonfinancial productivity carefully. These data are released with a one-quarter lag.
Adjusted for inflation, hourly compensation increased 0.4% in the second quarter
In the manufacturing sector, productivity increased at a 3.0% annual rate in the second quarter, while unit labor costs fell 1.2%.