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.

Eren Sengezer FXStreet

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.

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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