US Unit Labor Costs rise 4.7% in Q1 vs. 3.2% expected
Fonte Fxstreet
02/05/2024 12:57
- Unit Labor Costs rose more than expected in the first quarter.
- US Dollar Index stays below 106.00 after the data.
Unit Labor Costs in the nonfarm business sector increased 4.7% in the first quarter of 2024, the US Bureau of Labor Statistics (BLS) reported on Thursday. This reading followed the no change in the previous quarter (revised from +0.4%) and came in above the market expectation of 3.2%.
"Nonfarm business sector labor productivity increased 0.3% in the first quarter of 2024, as output increased 1.3% and hours worked increased 1%" the BLS noted in its press release.
Market reaction
These data don't seem to be having a significant impact on the USD's valuation against its major rivals. At the time of press, the US Dollar Index was up 0.07% on the day at 105.70.
Isenção de responsabilidade: Apenas para fins informativos. O desempenho passado não é indicativo de resultados futuros.
Artigos Relacionados
ECB's Schnabel: June rate cut may be appropriate, path after is much more uncertainEuropean Central Bank (ECB) Board member Isabel Schnabel said on Friday that the central bank may cut interest rates in June, but policymakers should look very carefully at the data because there is a risk of easing prematurely, per Reuters.
European Central Bank (ECB) Board member Isabel Schnabel said on Friday that the central bank may cut interest rates in June, but policymakers should look very carefully at the data because there is a risk of easing prematurely, per Reuters.
Minneapolis Federal Reserve (Fed) President Neel Kashkari added his voice to the procession of Fed officials giving their views on the US inflation outlook and the Fed's policy stance on Friday.
There were 208,000 initial jobless claims in the week ending April 27, the weekly data published by the US Department of Labor (DOL) showed on Thursday.
