Unit labor costs in the US nonfarm business sector rose an annualized 2.5 percent in the third quarter of 2019, compared to a preliminary estimate of 3.6 percent and below market expectations of 3.3 percent. It reflected a 2.3 percent increase in compensation per hour and a 0.2 percent decline in productivity. Year-on-year, unit labor costs increased 2.2 percent.
Labour Costs in the United States averaged 60.37 Index Points from 1950 until 2019, reaching an all time high of 112 Index Points in the third quarter of 2019 and a record low of 17 Index 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.
Labour Costs in the United States is expected to be 115.73 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 115.58 in 12 months time. In the long-term, the United States Nonfarm Unit Labour Cost is projected to trend around 124.54 points in 2020, according to our econometric models.