US: Unit Labor Costs surge by 8.3% in Q3 vs. 5.2% expected

Unit Labor Costs in US rose sharply in third quarter.
US Dollar Index continues to edge higher toward 94.30.

Unit Labor Costs in the US rose at an annual rate of 8.3% in the third quarter, the US Bureau of Labor Statistics reported on Thursday. This reading surpassed the market expectation of 5.2% by a wide margin and followed the second quarter's increase of 1.3%.

Further details of the publication revealed that the Nonfarm Productivity declined by 5% in the same period, missing analysts' estimate for a decrease of 1.5%.

Market reaction

The greenback continues to outperform its rivals following these mixed prints and the US Dollar Index was last seen rising 0.46% at 94.28.

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