US: Unit Labor Costs rise 1.1% in Q4 following 2% increase in Q3
|- Unit Labor Costs in the US rose at a softening pace in Q4.
- US Dollar Index continues to fluctuate slightly above 101.00.
Unit Labor Costs in the nonfarm business sector rose by 1.1% in the fourth quarter of 2022, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading followed 2% increase recorded in the third quarter.
Further details of the publication revealed that Nonfarm Productivity rose by 3% in the same period, compared to the market expectation of 2.4%.
Market reaction
The US Dollar Index showed no immediate reaction to these figures and was last seen posting small daily losses at 101.12.
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