US: Unit labor costs in nonfarm business sector increased 0.9% in Q3

Eren Sengezer FXStreet

"Nonfarm business sector labor productivity increased 2.3 percent during the third quarter of 2018," the U.S. Bureau of Labor Statistics announced on Thursday.

Key takeaways from the press release

Output increased 4.1 percent and hours worked increased 1.8 percent.
From the third quarter of 2017 to the third quarter of 2018, productivity increased 1.3 percent, reflecting a 3.7-percent increase in output and a 2.3-percent increase in hours worked.
Unit labor costs in the nonfarm business sector increased 0.9 percent in the third quarter of 2018, reflecting a 3.1-percent increase in hourly compensation and a 2.3-percent increase in labor productivity.
Unit labor costs also increased 0.9 percent over the last four quarters.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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