Nonfarm business sector labor productivity increased at a 3.3-percent annual rate during the second quarter of 2015, the U.S. Bureau of Labor Statistics reported today, as output increased 4.7 percent and hours worked increased 1.4 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the second quarter of 2014 to the second quarter of 2015, productivity increased 0.7 percent, reflecting increases in output and hours worked of 3.3 percent and 2.6 percent, respectively. (See table A.) Labor productivity, or output per hour, is calculated by dividing an index of real output ... (full story)