1stQ2014 Unit Labor Cost Revised Sharply upwards.

Worker Productivity & Costs  (2ndQ2014)

– Nonfarm productivity quarter/quarter (seasonally adjusted, annualized) +2.5%. Previous was -4.5%.

– Unit labor costs quarter/quarter (seasonally adjusted, annualized) +0.6%. Previous was +11.8%.

What is off-scale here is the very large increase in 1stQ2014 Unit Labor Cost.  This was likely the consequence of lower 1stQ2014 GDP and possibly increased health care costs.

Wholesale Trade (June 2014)

– Inventories +0.3%.  Previous was +0.3%.

This is part of GDP.