United States Labour Costs

Last Release

Jun 30, 2024

Actual

120.4

Units In

Points

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.