Unit labor costs in the US nonfarm business sector rose an annualized 1.4 percent in the fourth quarter of 2019, following a 2.5 percent advance in the previous three-month period and matching market expectations. Hourly compensation grew 2.8 percent (vs 2.3 percent in Q3), while productivity increased at a softer 1.4 percent (vs -0.2 percent in Q3). Costs in the total manufacturing sector jumped 5.9 percent. In 2019, labor costs rose 2.0 percent, slightly above a 1.8 percent gain in 2018. United States Nonfarm Unit Labour Cost - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.

Labour Costs in the United States averaged 60.56 points from 1950 until 2019, reaching an all time high of 112.38 points in the fourth quarter of 2019 and a record low of 17 points in the first quarter of 1950. This page provides the latest reported value for - United States Labour Costs - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Labour Costs in the United States is expected to be 115.73 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in the United States to stand at 115.97 in 12 months time. In the long-term, the United States Nonfarm Unit Labour Cost is projected to trend around 120.38 points in 2021 and 124.23 points in 2022, according to our econometric models.


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United States Nonfarm Unit Labour Cost

Actual Previous Highest Lowest Dates Unit Frequency
112.38 111.98 112.38 17.00 1950 - 2019 points Quarterly
2012=100, SA


Calendar GMT Actual Previous Consensus TEForecast
2019-09-05 12:30 PM Unit Labour Costs QoQ Final Q2 2.6% 5.7% 2.5% 2.4%
2019-11-06 01:30 PM Unit Labour Costs QoQ Prel Q3 3.6% 2.4% 2.2% 2.4%
2019-12-10 01:30 PM Unit Labour Costs QoQ Final Q3 2.5% 2.4% 3.3% 3.6%
2020-02-06 01:30 PM Unit Labour Costs QoQ Prel Q4 1.4% 2.5% 1.4% 1.2%


News Stream
US Labor Costs Rise 1.4% in Q4
Unit labor costs in the US nonfarm business sector rose an annualized 1.4 percent in the fourth quarter of 2019, following a 2.5 percent advance in the previous three-month period and matching market expectations. Hourly compensation grew 2.8 percent (vs 2.3 percent in Q3), while productivity increased at a softer 1.4 percent (vs -0.2 percent in Q3). Costs in the total manufacturing sector jumped 5.9 percent. In 2019, labor costs rose 2.0 percent, slightly above a 1.8 percent gain in 2018.
2020-02-06
US Q3 Nonfarm Labor Costs Revised Lower
Unit labor costs in the US nonfarm business sector rose an annualized 2.5 percent in the third quarter of 2019, compared to a preliminary estimate of 3.6 percent and below market expectations of 3.3 percent. It reflected a 2.3 percent increase in compensation per hour and a 0.2 percent decline in productivity. Year-on-year, unit labor costs increased 2.2 percent.
2019-12-10
US Labour Costs Above Forecasts
Unit labour costs in the US nonfarm business sector rose an annualized 3.6 percent in the third quarter of 2019, higher than an upwardly revised 2.4 percent gain in the previous period and well above market expectations of 2.2 percent, preliminary estimates showed. It reflects a 3.3 percent increase in compensation per hour (5 percent in Q2) and a 0.3 percent decline in productivity (+2.5 percent in Q2). Unit labour costs increased 3.1 percent over the last four quarters.
2019-11-06
US Labour Cost Rises More than Expected in Q2
Unit labor costs in the US nonfarm business sector rose an annualized 2.6 percent in the second quarter of 2019, higher than a preliminary 2.4 percent and after an upwardly revised 5.7 percent gain in the prior period. It compares with market forecasts of a 2.5 percent increase. Hourly compensation advanced 4.9 percent (from an initial 4.8 percent) and labor productivity went up 2.3 percent. Year-on-year, unit labor costs increased 2.6 percent.
2019-09-05

United States Nonfarm Unit Labour Cost
Labour Costs refers to the relationship between compensation per hour and labor productivity, or real output per hour, and can be used as an indicator of inflationary pressure on producers.