WASHINGTON, June 2 (UPI) -- The U.S. Bureau of Labor Statistics said Thursday non-farm labor productivity in the first quarter of 2011 rose at an annual rate of 1.8 percent.
The figure is a revision from a previous report that pegged productivity at 1.6 percent after a rise of 2.9 percent in the fourth quarter of 2010.
Economists had estimated no change, predicting productivity would stay at a 1.6 percent rise.
The bureau said output rose 3.2 percent in the quarter, revising the figure slightly higher.
Growth in compensation for workers was revised lower from 2.6 percent to 2.5 percent.
With slightly higher output and slightly lower costs, investors will see the report as positive.
Unit labor costs -- the cost of labor compared to productivity -- was revised from 1 percent to 0.7 percent.
