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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.

Most recent - Thursday 7 September 2023 12:30

Previous
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

Previous
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
6%
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%
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%
6%
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:

PreviousLatest
Michigan Consumer Sentiment IndexBullish change67.768.1
UoM 5-year Consumer Inflation ExpectationBullish change2.7%2.8%
Chicago Purchasing Managers' IndexBearish change48.744.1
Core Personal Consumption Expenditures - Price Index (MoM)Bearish change0.2%0.1%
Core Personal Consumption Expenditures - Price Index (YoY)Bearish change4.2%3.9%
Personal Consumption Expenditures - Price Index (MoM)Bullish change0.2%0.4%
Personal Consumption Expenditures - Price Index (YoY)Bullish change3.3%3.5%
Personal Income (MoM)Bullish change0.2%0.4%
Personal SpendingBearish change0.8%0.4%
Pending Home Sales (MoM)Bearish change0.9%-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 IndexBearish change2%1.7%
Initial Jobless ClaimsBearish change201K204K
Personal Consumption Expenditures Prices (QoQ)(no change)2.5%2.5%
Durable Goods OrdersBullish change-5.2%0.2%
Durable Goods Orders ex DefenseBullish change-5.4%-0.7%
Durable Goods Orders ex TransportationBearish change0.5%0.4%
Nondefense Capital Goods Orders ex AircraftBullish change0.1%0.9%
New Home Sales Change (MoM)Bearish change4.4%-8.7%
Housing Price Index (MoM)Bullish change0.3%0.8%
S&P Global Composite PMIBearish change50.250.1
S&P Global Manufacturing PMIBullish change47.948.9
S&P Global Services PMIBearish change50.550.2
Existing Home Sales Change (MoM)Bullish change-2.2%-0.7%
Initial Jobless ClaimsBullish change220K201K
Philadelphia Fed Manufacturing SurveyBearish change12-13.5
Fed Interest Rate Decision(no change)5.5%5.5%
Interest Rate Projections - 1st yearBullish change4.6%5.1%
Interest Rate Projections - 2nd yearBullish change3.4%3.9%
Interest Rate Projections - 3rd yearBearish change3.1%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 change1.442M1.543M
Housing Starts (MoM)Bearish change1.452M1.283M

About Unit Labor Costs

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