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United States Labour Costs
Last Release
Jun 30, 2024
Actual
120.4
Units In
Points
Previous
121.23
Frequency
Quarterly
Next Release
N/A
Time to Release
N/A
Highest | Lowest | Average | Date Range | Source |
130.96 Mar 2023 | 17.01 Mar 1950 | 64.36 Points | 1950-2024 | U.S. Bureau of Labor Statistics |
Labour Costs refers to the relationship between compensation per hour and labor productivity, or real output per hour, and can be used as an indicator of inflationary pressure on producers.
Latest Updates
Unit labor costs in the US nonfarm business sector declined by 0.8% in the third quarter of 2023, following an upwardly revised 3.2% increase in the previous three-month period and missing market expectations of a 0.7% rise, a preliminary estimate showed. It marked the first quarterly decline in labor costs since the fourth quarter of 2022, as hourly compensation increased by 3.9% and productivity advanced by 4.7%. Year-on-year, unit labor costs increased by 1.9% in the third quarter, the weakest pace of growth since the second quarter of 2021.
United States Labour Costs History
Last 12 readings