Unit labor costs in the US nonfarm business sector climbed at an annual rate of 9.0 percent in the second quarter of 2020, compared to a preliminary estimate of a 12.2 percent gain and following a 9.6 percent rise in the prior period. A 20 percent increase in hourly compensation outpaced the 10.1 percent increase in productivity.
Labour Costs in the United States averaged 60.94 points from 1950 until 2020, reaching an all time high of 116.86 points in the second quarter of 2020 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. United States Nonfarm Unit Labour Cost - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Labour Costs in the United States is expected to be 109.30 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 118.03 in 12 months time. In the long-term, the United States Nonfarm Unit Labour Cost is projected to trend around 115.90 points in 2021 and 120.07 points in 2022, according to our econometric models.