US: Unit Labor Costs rise 2.4% in Q3 vs. 3.2% expected
|- Unit Labor Costs in the US rose less than expected in the third quarter.
- US Dollar Index stays in negative territory near 105.00.
Unit Labor Costs in the nonfarm business sector rose by 2.4% in the third quarter of 2022, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in lower than the market expectation for an increase of 3.2%.
Further details of the publication revealed that Nonfarm Productivity rose by 0.8% in the same period, compared to the market expectation of 0.5%.
Market reaction
These figures don't seem to be having a significant impact on the US Dollar's performance against its major rivals. As of writing, the US Dollar Index was down 0.4% on the day at 105.15.
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