Unit labor costs in the US nonfarm business sector surged by 10.8 percent in the second quarter of 2022, above market forecasts of a 9.5 percent jump and following an upwardly revised 12.7 percent gain in the previous period. It reflects a 5.7 percent increase in hourly compensation and a 4.6 percent decrease in productivity. Unit labor costs increased 9.5 percent over the last four quarters, the most significant gain since the first quarter of 1982. source: U.S. Bureau of Labor Statistics
Labour Costs in the United States averaged 62.72 points from 1950 until 2022, reaching an all time high of 131.31 points in the second 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 August of 2022.
Labour Costs in the United States is expected to be 134.07 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 140.27 points in 2023 and 145.88 points in 2024, according to our econometric models.