Reply To: Traders Market Weekly: Geopolitics, ECB and Apple


Q2 productivity decreased 4.1% (consensus -4.6%) with the revised report while unit labor costs increased 10.2% (consensus 10.7%) versus a 10.8% increase seen in the advance report.

The key takeaway from the report is that nonfarm productivity decreased 2.4% from the same quarter a year ago, which is the largest decline in a series that began in the first quarter of 1948; meanwhile, unit labor costs saw the largest four-quarter increase (9.3%) since the first quarter of 1982.
The decline in Q2 productivity stemmed from a 1.4% decrease in output and a 2.7% increase in hours worked.
The increase in unit labor costs reflected a 5.7% increase in hourly compensation and a 4.1% decrease in productivity.