Unit labor costs in the US nonfarm business sector plunged 8.9 percent in the third quarter of 2020, following a 9 percent rise in the previous period and compared with market forecast of a 11.5 percent slump, a preliminary estimate showed. It is the biggest decline in labour cost since a 13.4 percent drop in the first quarter of 2009, reflecting a 4.4 percent decrease in hourly compensation and a 4.9 percent gain in productivity. source: U.S. Bureau of Labor Statistics

Labour Costs in the United States averaged 61.12 points from 1950 until 2020, reaching an all time high of 116.73 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 November of 2020.

Labour Costs in the United States is expected to be 120.12 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 118.03 in 12 months time. In the long-term, the United States Nonfarm Unit Labour Cost is projected to trend around 125.64 points in 2021 and 120.07 points in 2022, according to our econometric models.

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United States Nonfarm Unit Labour Cost

Actual Previous Highest Lowest Dates Unit Frequency
114.04 116.73 116.73 17.00 1950 - 2020 points Quarterly
2012=100, SA


Calendar GMT Actual Previous Consensus TEForecast
2020-06-04 12:30 PM Unit Labour Costs QoQ Final Q1 5.1% 2.2% 5% 4.8%
2020-08-14 12:30 PM Unit Labour Costs QoQ Prel Q2 12.2% 9.8% 6.2% 5.9%
2020-09-03 12:30 PM Unit Labour Costs QoQ Final Q2 9% 9.6% 12.1% 12.2%
2020-11-05 01:30 PM Unit Labour Costs QoQ Prel Q3 -8.9% 8.5% -11.5% -10%
2020-12-08 01:30 PM Unit Labour Costs QoQ Final Q3 9% -8.9%
2021-02-04 01:30 PM Unit Labour Costs QoQ Prel Q4
2021-03-04 01:30 PM Unit Labour Costs QoQ Final Q4
2021-05-06 12:30 PM Unit Labour Costs QoQ Prel Q1


News Stream
US Q3 Nonfarm Labor Costs Drop the Most since 2009
Unit labor costs in the US nonfarm business sector plunged 8.9 percent in the third quarter of 2020, following a 9 percent rise in the previous period and compared with market forecast of a 11.5 percent slump, a preliminary estimate showed. It is the biggest decline in labour cost since a 13.4 percent drop in the first quarter of 2009, reflecting a 4.4 percent decrease in hourly compensation and a 4.9 percent gain in productivity.
2020-11-05
US Q2 Nonfarm Labor Costs Revised Lower
Unit labor costs in the US nonfarm business sector climbed at an annual rate of 9.0 percent in the second quarter of 2020, compared to a preliminary estimate of a 12.2 percent gain and following a 9.6 percent rise in the prior period. A 20 percent increase in hourly compensation outpaced the 10.1 percent increase in productivity.
2020-09-03
US Unit Labour Costs Rise the Most in 6 Years
Unit labor costs in the US nonfarm business sector jumped an annualized 12.2 percent in the second quarter of 2020, following an upwardly revised 9.8 percent rise in the prior period and compared with market forecasts of a 6.2 percent gain, a preliminary estimate showed. It is the biggest rise in labor costs since a 12.4 percent gain in the first quarter of 2014, reflecting a 20.4 percent increase in hourly compensation and a 7.3 percent rise in productivity.
2020-08-14
US Q1 Labor Costs Revised Higher
Unit labor costs in the US nonfarm business sector increased an annualized 5.1 percent in the first quarter of 2020, higher than a preliminary estimate of 4.8 percent and after an upwardly revised 2.2 percent rise in the prior period. It is the biggest increase in labor costs since a 5.7 percent rise in the first quarter of 2019. Hourly compensation went up 4.2 (from an initial 2.2 percent), while productivity decreased 0.9 percent (from an initial -2.5 percent). Unit labor costs increased 1.9 percent over the last four quarters.
2020-06-04

United States Nonfarm Unit Labour Cost
Labour Costs refers to the relationship between compensation per hour and labor productivity, or real output per hour, and can be used as an indicator of inflationary pressure on producers.