US: Unit Labor Costs rose 1.4% in fourth quarter as expected

Eren Sengezer FXStreet

Unit Labor Costs in the US' nonfarm business sector increased 1.4% in the fourth quarter of 2019, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading followed the third quarter's 2.5% increase and came in line with the market expectation.

"Unit labor costs increased 2.4% over the last four quarters," the publication read.

Further details of the report revealed that Nonfarm Productivity rose 1.4% after declining 0.2% in the previous quarter.

USD reaction

The US Dollar Index, which tracks the greenback's performance against a basket of six major currencies, largely ignored these figures and was last seen at 98.30, where it was up 0.05% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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