Labor productivity in the U.S. increased by slightly less than expected in the third quarter, according to a report released by the Labor Department on Thursday, while unit labor costs rose by much more than expected.

The Labor Department said labor productivity shot up by 2.2 percent in the third quarter after surging by a downwardly revised 2.1 percent in the second quarter.

Economists had expected labor productivity to jump by 2.3 percent compared to the 2.5 percent spike that had been reported for the previous quarter.

Meanwhile, the report said unit labor costs surged by 1.9 percent in the third quarter after spiking by an upwardly revised 2.4 percent in the second quarter.

Unit labor costs were expected to rise by 0.5 percent compared to the 0.4 percent increase that had been reported for the previous quarter.

A separate report released by the Labor Department on Thursday showed a modest rebound by first-time claims for U.S. unemployment benefits in the week ended November 2nd.

The Labor Department said initial jobless claims crept up to 221,000, an increase of 3,000 from the previous week’s revised level of 218,000.

Economists had expected jobless claims to rise to 221,000 from the 216,000 originally reported for the previous week.

The uptick came a week after jobless claims dropped to their lowest level since hitting 216,000 in the week ended May 18th.

At 10 am ET, the Commerce Department is scheduled to release its report on wholesale inventories in the month of September. Wholesale inventories are expected to edge down by 0.1 percent.

The Federal Reserve is due to announce its monetary policy decision at 2 pm ET, followed by Fed Chair Jerome Powell’s post-meeting press conference at 2:30 pm ET.

At 3 pm ET, the Fed is scheduled to release its report on consumer credit in the month of September. Consumer credit is expected to increase by $14.5 billion.