US: Unit Labor Costs Rise by 9% in Q2

Unit Labor Costs in the nonfarm business sector rose by 9% on a yearly basis in the second quarter, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading followed a 12.2% increase in the first quarter and fell short of the market expectation of 12.1%.

Further details of the publication revealed that nonfarm business sector Labor Productivity increased by 10.1%, surpassing analysts’ estimate of 7.5%.