US: Unit Labor Costs rise by 1% in Q2 vs. 1.1% expected

  • Unit Labor Costs in the US increased in the second quarter.
  • US Dollar Index stays afloat in the positive territory above 93.00. 

After contracting by 2.8% in the first quarter, Unit Labor Costs in the US rose by 1% in the second quarter, the US Bureau of Labor Statistics reported on Tuesday. This reading came in slightly below the market expectation for an increase of 1.1%.

Further details of the publication revealed that the Nonfarm Productivity was up 2.3% in the same period, compared to analysts' estimate of 3.5%.

Market reaction

This report doesn't seem to be having a noticeable impact on the greenback's performance against its rivals. As of writing, the US Dollar Index was up 0.08% on the day at 93.05.

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