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2008 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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Productivity measures the growth of labor efficiency in producing the economy's goods and services. Unit labor costs reflect the labor costs of producing each unit of output. Both are followed as indicators of future inflationary trends. Why Investors Care
| Released on 12/5/06 For Q3 Revised 2006 | |||||||||||||||||||||||||
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Highlights
Release data are posted. Highlights and updated charts on this event will follow shortly.
Nonfarm productivity in the third quarter fell to no change from 1.2 percent in the second quarter. Meanwhile, unit labor costs were still strong at an annualized 3.8 percent pace, following 5.4 percent in the second quarter. With the upward revision to real GDP growth, we should get some marginal improvement with the revisions to third quarter productivity and cost numbers.
Nonfarm Productivity Consensus Forecast for revised Q3 06: 0.5 percent
Range: 0.2 to 0.7 percent
Unit Labor Costs Consensus Forecast for revised Q3 06: 3.2 percent rate
Range: 2.6 to 3.7 percent rate
![[Chart]](chart.gif)
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Nonfarm productivity growth has remained healthy during this expansion, but it has prevented employment from growing very fast and this hurt income growth to some extent. Unit labor costs tend to fall when productivity growth accelerates and then rises as productivity growth abates. |
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