Unit labor costs in the US nonfarm business sector jumped an annualized 6.8 percent in the fourth quarter of 2020, rebounding from an upwardly revised 7 percent drop in the previous period and compared with market forecast of a 4 percent rise, a preliminary estimate showed. Hourly compensation climbed 1.7 percent and productivity fell 4.8 percent. Year-on-year, unit labor costs in the nonfarm business sector rose 5.2 percent. Considering full 2020, unit labor costs went up 4.3 percent. source: U.S. Bureau of Labor Statistics
Labour Costs in the United States averaged 61.33 points from 1950 until 2020, reaching an all time high of 117.74 points in the second quarter of 2020 and a record low of 17 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 February of 2021.
Labour Costs in the United States is expected to be 118.03 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in the United States to stand at 121.55 in 12 months time. In the long-term, the United States Nonfarm Unit Labour Cost is projected to trend around 125.93 points in 2022 and 130.97 points in 2023, according to our econometric models.