US: Unit Labor Costs in third quarter rose 3.6% vs. 2.2% expected

• Nonfarm Productivity in the US declined in the third quarter.
• Unit Labor Costs rose 3.6% to come in higher than the market expectation.

According to the data published by the US Labor Department on Wednesday, Unit Labor Costs in the third quarter rose 3.6% following the 2.4% increase in the second quarter and surpassed the market expectation of 2.2%.

Further details of the report showed that the Nonfarm Productivity in the same period declined by 0.3% and missed analysts’ estimate of +0.9%.

The greenback paid no attention to the data and the US Dollar Index was last down 0.12% on the day at 97.79.