- Unit Labor Costs in US rose less than expected in Q4.
- US Dollar Index clings to modest daily gains above 91.10 after the data.
Unit Labor Costs in the US’ nonfarm business sector rose by 6% on yearly basis in the fourth quarter, the US Bureau of Labor Statistics reported on Thursday. This reading came in lower than the flash estimate of 6.8% and missed the market expectation of 6.7%.
Further details of the publication showed that Nonfarm Productivity in the same period fell by 4.2%, compared to the market expectation of 4.7%.
Market reaction
This report doesn’t seem to be having a meaningful impact on the USD’s performance against its rivals. As of writing, the US Dollar Index was up 0.25% on the day at 91.17.
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