US Q4 labour productivity beats forecasts, limiting unit cost growth

By Alexander Bueso

Date: Thursday 02 Feb 2023

(Sharecast News) - Fourth quarter labour productivity in the US was higher than expected, helping to limit unit labour cost growth.
According to the Department of Labor, non-farm labor productivity increased at a quarterly annualised clip of 3.0% over the three months to December (consensus: 2.5%).

Unit labour costs meanwhile grew by 1.1% (consensus: 1.5%).

Hourly compensation growth ran at a 4.1% pace during the quarter and 1.0% in real or inflation-adjusted terms.

Output was up by 3.5% and hours worked by 0.5%.

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