- Unit Labor Costs in the US increased at a stronger pace than expected in Q1.
- US Dollar Index turns positive after the report rising above 101.50.
“Unit labor costs (ULC) in the nonfarm business sector increased 6.3% in the first quarter of 2023, reflecting a 3.4% increase in hourly compensation and a 2.7% decrease in productivity. Unit labor costs increased 5.8% over the last four quarters”, the US Bureau of Labor Statistics (BLS) reported on Thursday. The increase in ULC was higher than the 5.5% increase expected.
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