Unit Labor Costs

The Unit Labor Cost released by the Bureau of Labor Statistics, Department of Labor shows a total cost of employing a labor force. It can serve as an indicator of trends in production costs, share prices, and inflation. A high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative ,or bearish.

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Most recent - Thursday 7 September 2023 12:30

1.6%

Revised

Forecast

1.6%

Actual

2.2%

Higher numbers than forecast tend to be bullish for USD/xxx pairs and bearish for xxx/USD pairs.

Next event - Thursday 2 November 2023 12:30

2.2%

Forecast

Actual

The typical/expected impact on USD pairs is medium.

There is no forecast value for Unit Labor Costs yet - check back for updates.

Trading range

Forecast history

The most recent announced value for Unit Labor Costs was 2.2% against a forecast of 1.6%.

Past events

Date

Forecast

Actual

Thursday 7 September 2023 12:30

1.6%

2.2%

Thursday 3 August 2023 12:30

2.6%

1.6%

Thursday 1 June 2023 12:30

4.2%

Thursday 4 May 2023 12:30

5.5%

6.3%

Thursday 2 March 2023 13:30

1.6%

3.2%

Thursday 2 February 2023 13:30

1.5%

1.1%

Wednesday 7 December 2022 13:30

3.2%

2.4%

Thursday 3 November 2022 12:30

4.1%

3.5%

Thursday 1 September 2022 12:30

10.7%

10.2%

Tuesday 9 August 2022 12:30

9.5%

10.8%

Thursday 2 June 2022 12:30

11.6%

12.6%

Thursday 5 May 2022 12:30

9.9%

11.6%

Thursday 3 March 2022 13:30

0.3%

0.9%

Thursday 3 February 2022 13:30

1.5%

0.3%

Tuesday 7 December 2021 13:30

8.4%

9.6%

Thursday 4 November 2021 12:30

5.2%

8.3%

Thursday 2 September 2021 12:30

0.9%

1.3%

Tuesday 10 August 2021 12:30

1.1%

Thursday 3 June 2021 12:30

-0.4%

1.7%

Thursday 6 May 2021 12:30

-1%

-0.3%

Thursday 4 March 2021 13:30

6.7%

Thursday 4 February 2021 13:30

3.9%

6.8%

Tuesday 8 December 2020 13:30

-8.9%

-6.6%

Thursday 5 November 2020 13:30

-11.5%

-8.9%

Economic context

Recent economic data has been broadly neutral for USD. Other recent announcements which may affect the market's interpretation of the next Unit Labor Costs result:

		Previous	Latest
Michigan Consumer Sentiment Index	Bullish change	67.7	68.1
UoM 5-year Consumer Inflation Expectation	Bullish change	2.7%	2.8%
Chicago Purchasing Managers' Index	Bearish change	48.7	44.1
Core Personal Consumption Expenditures - Price Index (MoM)	Bearish change	0.2%	0.1%
Core Personal Consumption Expenditures - Price Index (YoY)	Bearish change	4.2%	3.9%
Personal Consumption Expenditures - Price Index (MoM)	Bullish change	0.2%	0.4%
Personal Consumption Expenditures - Price Index (YoY)	Bullish change	3.3%	3.5%
Personal Income (MoM)	Bullish change	0.2%	0.4%
Personal Spending	Bearish change	0.8%	0.4%
Pending Home Sales (MoM)	Bearish change	0.9%	-7.1%
Core Personal Consumption Expenditures (QoQ)	(no change)	3.7%	3.7%
Gross Domestic Product Annualized	(no change)	2.1%	2.1%
Gross Domestic Product Price Index	Bearish change	2%	1.7%
Initial Jobless Claims	Bearish change	201K	204K
Personal Consumption Expenditures Prices (QoQ)	(no change)	2.5%	2.5%
Durable Goods Orders	Bullish change	-5.2%	0.2%
Durable Goods Orders ex Defense	Bullish change	-5.4%	-0.7%
Durable Goods Orders ex Transportation	Bearish change	0.5%	0.4%
Nondefense Capital Goods Orders ex Aircraft	Bullish change	0.1%	0.9%
New Home Sales Change (MoM)	Bearish change	4.4%	-8.7%
Housing Price Index (MoM)	Bullish change	0.3%	0.8%
S&P Global Composite PMI	Bearish change	50.2	50.1
S&P Global Manufacturing PMI	Bullish change	47.9	48.9
S&P Global Services PMI	Bearish change	50.5	50.2
Existing Home Sales Change (MoM)	Bullish change	-2.2%	-0.7%
Initial Jobless Claims	Bullish change	220K	201K
Philadelphia Fed Manufacturing Survey	Bearish change	12	-13.5
Fed Interest Rate Decision	(no change)	5.5%	5.5%
Interest Rate Projections - 1st year	Bullish change	4.6%	5.1%
Interest Rate Projections - 2nd year	Bullish change	3.4%	3.9%
Interest Rate Projections - 3rd year	Bearish change	3.1%	2.9%
Interest Rate Projections - Current	(no change)	5.6%	5.6%
Interest Rate Projections - Longer	(no change)	2.5%	2.5%
Building Permits (MoM)	Bullish change	1.442M	1.543M
Housing Starts (MoM)	Bearish change	1.452M	1.283M

About Unit Labor Costs

Country:	United States
Currency:	USD
Source:	US Bureau of Labor Statistics
Category:	Labor Market
Frequency:	Quarterly

Related events

	Australia		Unemployment Rate s.a.
	Australia		Employment Change s.a.
	Canada		Unemployment Rate
	Canada		Net Change in Employment
	New Zealand		Unemployment Rate
	New Zealand		Employment Change
	United Kingdom		Employment Change
	United Kingdom		ILO Unemployment Rate (3M)
	United Kingdom		Claimant Count Change
	United States		Nonfarm Payrolls
	United States		ADP Employment Change
	Australia		Wage Price Index (QoQ)
	Australia		Full-Time Employment
	Canada		Participation Rate
	Canada		Average Hourly Wages (YoY)
	Switzerland		Unemployment Rate s.a (MoM)
	Germany		Unemployment Change
	Germany		Unemployment Rate s.a.
	Eurozone		Labor Cost
	Eurozone		Unemployment Rate
	Italy		Unemployment
	Japan		Jobs / Applicants Ratio
	Japan		Unemployment Rate
	New Zealand		Participation Rate
	New Zealand		Labour Cost Index (QoQ)
	United Kingdom		Claimant Count Rate
	United Kingdom		Average Earnings Including Bonus (3Mo/Yr)
	United Kingdom		Average Earnings Excluding Bonus (3Mo/Yr)
	United States		ISM Manufacturing Employment Index
	United States		Personal Income (MoM)
	United States		ISM Services Employment Index
	United States		Unemployment Rate
	United States		Nonfarm Productivity
	United States		Initial Jobless Claims
	United States		Labor Force Participation Rate
	United States		U6 Underemployment Rate
	United States		Initial Jobless Claims 4-week average
	United States		Average Hourly Earnings (MoM)
	United States		Average Hourly Earnings (YoY)

Calendar - Unit Labor Costs - United States

Unit Labor Costs

Most recent - Thursday 7 September 2023 12:30

Next event - Thursday 2 November 2023 12:30

Trading range

Trading range after each Unit Labor Costs event

Forecast history

Past events

Economic context

About Unit Labor Costs

Related events