Home US: Unit Labor Costs decline by 8.9% in Q3 vs. -11.5% expected
FXStreet News

US: Unit Labor Costs decline by 8.9% in Q3 vs. -11.5% expected

  • Unit Labor Costs fell at a softer pace than expected in Q3.
  • US Dollar Index struggles to stage a rebound after the data.

Unit Labor Costs in the US’ nonfarm business sector declined by 8.9% on a yearly basis in the third quarter, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading followed an 8.5% (revised from 9%) increase in the previous quarter and came in better than the market expectation for a fall of 11.5%.

Further details of the publication revealed that Labor Productivity in the nonfarm business sector increased by 4.9% in the same period and fell short of analysts’ estimate of 5.6%. 

Market reaction

The US Dollar Index largely ignored this data and was last seen losing 0.88% on the day at 92.66.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.