Unit labor costs in the US nonfarm business sector jumped an annualized 12.6 percent in the first quarter of 2022, higher than initial estimates of an 11.6% rise. It reflects a 4.4% increase in hourly compensation and a 7.3% decrease in productivity. Unit labor costs increased 8.2% over the last four quarters, the largest four-quarter increase since Q3 1982. source: U.S. Bureau of Labor Statistics

Labour Costs in the United States averaged 62.48 points from 1950 until 2022, reaching an all time high of 127.95 points in the first quarter of 2022 and a record low of 17.01 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 June of 2022.

Labour Costs in the United States is expected to be 125.94 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Nonfarm Unit Labour Cost is projected to trend around 133.82 points in 2023 and 139.17 points in 2024, according to our econometric models.

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United States Nonfarm Unit Labour Cost



Calendar GMT Actual Previous Consensus TEForecast
2022-05-05 12:30 PM Unit Labour Costs QoQ Prel Q1 11.6% 1% 9.9% 6.1%
2022-06-02 12:30 PM Unit Labour Costs QoQ Final Q1 12.6% 3.9% 11.6% 11.6%


Related Last Previous Unit Reference
Unemployment Rate 3.60 3.60 percent May 2022
Non Farm Payrolls 390.00 436.00 Thousand May 2022
Government Payrolls 57.00 31.00 Thousand May 2022
Nonfarm Payrolls Private 333.00 405.00 Thousand May 2022
Manufacturing Payrolls 18.00 61.00 Thousand May 2022
Initial Jobless Claims 229.00 231.00 Thousand Jun 2022
Continuing Jobless Claims 1315.00 1310.00 Thousand Jun 2022
Unemployed Persons 5950.00 5941.00 Thousand May 2022
Employed Persons 158426.00 158105.00 Thousand May 2022
Average Hourly Earnings 0.30 0.30 percent May 2022
Average Weekly Hours 34.60 34.60 Hours May 2022
Labor Force Participation Rate 62.30 62.20 percent May 2022
Long Term Unemployment Rate 1.07 1.03 percent Feb 2022
Youth Unemployment Rate 7.80 7.90 percent May 2022
Labour Costs 127.95 124.20 points Mar 2022
Productivity 110.98 113.17 points Mar 2022
Job Vacancies 11981.00 11737.00 Thousand Apr 2022
Job Offers 11400.00 11855.00 Thousand Apr 2022
Wages 27.33 27.12 USD/Hour May 2022
Wages in Manufacturing 24.93 24.82 USD/Hour May 2022
Employment Cost Index 1.40 1.00 percent Mar 2022
Jobless Claims 4-week Average 223.50 219.00 Thousand Jun 2022
Employment Rate 60.10 60.00 percent May 2022
Part Time Employment 25766.00 26091.00 Thousand May 2022
Full Time Employment 132800.00 132067.00 Thousand May 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
127.95 124.20 127.95 17.01 1950 - 2022 points Quarterly
2012=100, SA

News Stream
US Labour Costs Revised Higher in Q1
Unit labor costs in the US nonfarm business sector jumped an annualized 12.6 percent in the first quarter of 2022, higher than initial estimates of an 11.6% rise. It reflects a 4.4% increase in hourly compensation and a 7.3% decrease in productivity. Unit labor costs increased 8.2% over the last four quarters, the largest four-quarter increase since Q3 1982.
2022-06-02
US Labour Costs Rise More than Expected
Unit labor costs in the US nonfarm business sector surged by 11.6 percent in the first quarter of 2022, above market forecasts of a 9.9 percent jump and following an upwardly revised 1 percent gain in the previous period. It reflects a 3.2 percent increase in hourly compensation and a 7.5 percent decrease in productivity. Unit labor costs increased 7.2 percent over the last four quarters, the largest gain since the third quarter of 1982, as hourly compensation increased 6.5 percent while productivity dropped 0.6 percent.
2022-05-05
US Q4 Labour Cost Growth Revised Higher
Unit labor costs in the US nonfarm business sector increased an annualized 0.9 percent in the last quarter of 2021, faster than initial estimates of a 0.3 percent gain but slowing sharply from a downwardly revised 9.3 percent rise in the previous period. The reading reflects a 7.5 percent jump in hourly compensation and a 6.6 percent increase in productivity. Unit labor costs rose 3.5 percent over the last four quarters, instead of the previously reported 3.1 percent, as hourly compensation went up 5.5 percent and productivity increased 1.9 percent.
2022-03-03