facebook
twitter
rss
account
search
search
 

Unit labor costs in factories rose in second quarter

Aug. 16, 2013 at 10:13 AM   |   Comments

WASHINGTON, Aug. 16 (UPI) -- The cost of labor in non-farm businesses rose 1.4 percent in the second quarter on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics said.

The rising labor costs were attributed to a 2.3 percent rise in hourly compensation and a 0.9 percent rise in productivity.

Both compensation and unit labor costs rose 1.6 percent over the last four quarters, the bureau said in a report released Friday.

Manufacturing productivity rose 2.7 percent in the quarter with output up 0.1 percent and hours worked down 2.6 percent. For manufacturing firms, unit labor costs rose 1.4 percent from quarter to quarter and dropped 0.4 percent from the second quarter of 2012.

By comparison, unit labor costs fell 4.3 percent in the first quarter due to a sharp drop in hourly compensation and a 0.5 percent gain in productivity, the bureau said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
U.S. Air Force orders more RQ-4 Global Hawks U.S. Air Force orders more RQ-4 Global Hawks
2
Hotel chain suspending sponsorship of Minnesota Vikings Hotel chain suspending sponsorship of Minnesota Vikings
3
Kurds challenge latest Iraqi oil claims Kurds challenge latest Iraqi oil claims
4
Lockheed tests aircraft laser turret
5
Cover Girl ads photoshopped to protest NFL's Roger Goodell Cover Girl ads photoshopped to protest NFL's Roger Goodell
Trending News
Video
x
Feedback