Productivity and Costs Released On 6/4/2014 8:30:00 AM For Q1r:14 Prior Prior Revised Consensus Consensus Range Actual Nonfarm productivity - Q/Q change - SAAR -1.7 % -2.9 % -3.4 % to -2.0 % -3.2 % Unit labor costs - Q/Q change - SAAR 4.2 % -0.6 % 5.2 % 4.0 % to 5.7 % 5.7 % Market Consensus before announcement Nonfarm business productivity was hit by adverse winter weather in the first quarter. Productivity in the first quarter fell an annualized 1.7 percent after a 2.3 percent advance the prior quarter. Unit labor costs jumped an annualized 4.2 percent after slipping 0.4 percent in the fourth quarter. The drop in productivity reflected a 0.3 percent rise in non-farm output, following a boost of 3.8 percent in the fourth quarter. Hours worked increased 2.0 percent in the first quarter after rising an annualized 1.4 in the fourth quarter. Compensation firmed to a 2.4 percent rate after rising 1.9 percent in the fourth quarter.
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