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.