Unit labor costs in the US nonfarm business sector jumped an annualized 8.3 percent in the third quarter of 2021, more than market forecasts of 7 percent rise and following a downwardly revised 1.1 percent gain in the previous period. It reflects a 2.9 percent increase in hourly compensation and a 5.0 percent drop in productivity. Unit labor costs increased 4.8 percent over the last four quarters, as hourly compensation increased 4.3 percent and productivity increased an upwardly revised 1.9 percent. source: U.S. Bureau of Labor Statistics
Labour Costs in the United States averaged 62.03 points from 1950 until 2021, reaching an all time high of 120.92 points in the third quarter of 2021 and a record low of 17.01 points in the first quarter of 1950. This page provides the latest reported value for - United States Labour Costs - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Nonfarm Unit Labour Cost - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.
Labour Costs in the United States is expected to be 129.07 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Nonfarm Unit Labour Cost is projected to trend around 133.72 points in 2022 and 139.07 points in 2023, according to our econometric models.