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5 Mar 2020
US: Unit Labor Costs in fourth quarter rose 0.9% vs. 1.4% expected
- Unit Labor Costs in Q4 rose less than expected.
- US Dollar Index extends slide below 97 after data.
Unit Labor Costs in the fourth quarter rose 0.9% in the US following the 1.4% increase recorded in the third quarter, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading came in worse than the market expectation of 1.4%.
Further details of the report revealed that Nonfarm Productivity in the same period rose 1.2% to miss analysts' estimate of 1.4%.
USD reaction
The US Dollar Index edged lower after these disappointing figures and was last seen at 96.95, erasing 0.45% on a daily basis.