What happened
The final reading for US second-quarter nonfarm unit labor costs came in at 1.2%, according to the report.
That figure was below the 1.3% that economists had anticipated and also lower than the previous quarter's 1.30%.
Why it matters
A lower-than-expected rise in unit labor costs suggests businesses are getting more output per dollar spent on labor, which could ease concerns about wage-driven inflation.
The downward revision from the prior reading may give policymakers some comfort that labor cost pressures are not accelerating as much as initially thought.
Key facts
US second-quarter nonfarm unit labor costs final value: 1.2%.
The expected figure was 1.3%.
The previous reading was 1.30%.
What to watch next
Investors and analysts will likely monitor upcoming labor market data to see if this trend in unit labor costs persists.
Further revisions or subsequent quarterly releases could confirm whether this easing is a one-time adjustment or a broader pattern.