US Unit Labor Costs Decline in Q3

Unit labor costs in the United States declined during the third quarter (Q3) of the year, data by the US Department of Labor showed on Tuesday.

The price of labor for each unit of output decreased by 6.6%, compared with a previously estimated 8.9%.

It is worth noting that during the second quarter (Q2) of 2020, unit labor costs grew by a rate of 12.3%.

On an annual basis, unit labor costs increased by 4.0%, compared with the same quarter in 2019.