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Unit Labor Costs

The Unit Labor Cost released by the Bureau of Labor Statistics, Department of Labor shows a total cost of employing a labor force. It can serve as an indicator of trends in production costs, share prices, and inflation. A high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative ,or bearish.

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Most recent - Thursday, 5 June 12:30

5.7%

Revised

Forecast

5.7%

Actual

6.6%

Higher numbers than forecast tend to be bullish for USD/xxx pairs and bearish for xxx/USD pairs.

Next event - Thursday, 7 August 12:30

6.6%

Forecast

Actual

The typical/expected impact on USD pairs is medium.

There is no forecast value for Unit Labor Costs yet - check back for updates.

Trading range

Forecast history

The most recent announced value for Unit Labor Costs was 6.6% against a forecast of 5.7%.

Past events

Date

Forecast

Actual

5 June 2025 12:30

5.7%

6.6%

8 May 2025 12:30

5.3%

5.7%

6 March 2025 13:30

2.2%

6 February 2025 13:30

3.8%

10 December 2024 13:30

1.9%

0.8%

7 November 2024 13:30

0.5%

1.9%

5 September 2024 12:30

0.9%

0.4%

1 August 2024 12:30

1.8%

0.9%

6 June 2024 12:30

4.9%

2 May 2024 12:30

3.2%

4.7%

7 March 2024 13:30

0.6%

0.4%

1 February 2024 13:30

1.7%

0.5%

6 December 2023 13:30

-0.9%

-1.2%

2 November 2023 12:30

0.7%

-0.8%

7 September 2023 12:30

1.6%

2.2%

3 August 2023 12:30

2.6%

1.6%

1 June 2023 12:30

4.2%

4 May 2023 12:30

5.5%

6.3%

2 March 2023 13:30

1.6%

3.2%

2 February 2023 13:30

1.5%

1.1%

7 December 2022 13:30

3.2%

2.4%

3 November 2022 12:30

4.1%

3.5%

1 September 2022 12:30

10.7%

10.2%

9 August 2022 12:30

9.5%

10.8%

Economic context

Recent economic data has been broadly neutral for USD. Other recent announcements which may affect the market's interpretation of the next Unit Labor Costs result:

		Previous	Latest
Factory Orders (MoM)	Bullish change	-3.9%	8.2%
ISM Services Employment Index	Bearish change	50.7	47.2
ISM Services New Orders Index	Bullish change	46.4	51.3
ISM Services PMI	Bullish change	49.9	50.8
ISM Services Prices Paid	Bearish change	68.7	67.5
S&P Global Composite PMI	Bullish change	52.8	52.9
Average Hourly Earnings (YoY)	Bearish change	3.8%	3.7%
Initial Jobless Claims	Bullish change	237K	233K
Labor Force Participation Rate	Bearish change	62.4%	62.3%
Nonfarm Payrolls	Bullish change	144K	147K
U6 Underemployment Rate	Bullish change	7.8%	7.7%
Unemployment Rate	Bullish change	4.2%	4.1%
Average Hourly Earnings (MoM)	Bearish change	0.4%	0.2%
ADP Employment Change	Bearish change	29K	-33K
Challenger Job Cuts	Bearish change	93.816K	47.999K
ISM Manufacturing Employment Index	Bearish change	46.8	45
ISM Manufacturing New Orders Index	Bearish change	47.6	46.4
ISM Manufacturing PMI	Bullish change	48.5	49
ISM Manufacturing Prices Paid	Bullish change	69.4	69.7
JOLTS Job Openings	Bullish change	7.395M	7.769M
Chicago PMI	Bearish change	40.5	40.4
Michigan Consumer Expectations Index	Bearish change	58.4	58.1
Michigan Consumer Sentiment Index	Bullish change	60.5	60.7
UoM 1-year Consumer Inflation Expectations	Bearish change	5.1%	5%
UoM 5-year Consumer Inflation Expectation	Bearish change	4.1%	4%
Core Personal Consumption Expenditures - Price Index (MoM)	Bullish change	0.1%	0.2%
Core Personal Consumption Expenditures - Price Index (YoY)	Bullish change	2.6%	2.7%
Personal Consumption Expenditures - Price Index (MoM)	(no change)	0.1%	0.1%
Personal Consumption Expenditures - Price Index (YoY)	Bullish change	2.2%	2.3%
Personal Income (MoM)	Bearish change	0.7%	-0.4%
Personal Spending	Bearish change	0.2%	-0.1%
Pending Home Sales (MoM)	Bullish change	-6.3%	1.8%
Core Personal Consumption Expenditures (QoQ)	Bullish change	3.4%	3.5%
Durable Goods Orders	Bullish change	-6.6%	16.4%
Durable Goods Orders ex Defense	Bullish change	-7.7%	15.5%
Durable Goods Orders ex Transportation	Bullish change	0%	0.5%
Gross Domestic Product Annualized	Bearish change	-0.2%	-0.5%
Gross Domestic Product Price Index	Bullish change	3.7%	3.8%
Initial Jobless Claims	Bullish change	245K	236K
Nondefense Capital Goods Orders ex Aircraft	Bullish change	-1.4%	1.7%
Personal Consumption Expenditures Prices (QoQ)	Bullish change	3.6%	3.7%
New Home Sales Change (MoM)	Bearish change	9.6%	-13.7%

About Unit Labor Costs

Country:	United States
Currency:	USD
Source:	US Bureau of Labor Statistics
Category:	Labor Market
Frequency:	Quarterly

Related events

	Australia		Unemployment Rate s.a.
	Australia		Employment Change s.a.
	Canada		Unemployment Rate
	Canada		Net Change in Employment
	New Zealand		Unemployment Rate
	New Zealand		Employment Change
	United Kingdom		Employment Change
	United Kingdom		ILO Unemployment Rate (3M)
	United Kingdom		Claimant Count Change
	United States		Nonfarm Payrolls
	United States		ADP Employment Change
	United States		Average Hourly Earnings (MoM)
	United States		Average Hourly Earnings (YoY)
	Australia		Wage Price Index (QoQ)
	Australia		Part-Time Employment
	Australia		Participation Rate
	Australia		Full-Time Employment
	Canada		Average Hourly Wages (YoY)
	Germany		Unemployment Change
	Germany		Unemployment Rate s.a.
	Eurozone		Unemployment Rate
	Eurozone		Employment Change (QoQ)
	Japan		Labor Cash Earnings (YoY)
	Japan		Unemployment Rate
	New Zealand		Participation Rate
	New Zealand		Labour Cost Index (QoQ)
	United Kingdom		Claimant Count Rate
	United Kingdom		Average Earnings Including Bonus (3Mo/Yr)
	United Kingdom		Average Earnings Excluding Bonus (3Mo/Yr)
	United States		ISM Manufacturing Employment Index
	United States		Personal Income (MoM)
	United States		Nonfarm Payrolls Benchmark Revision
	United States		ISM Services Employment Index
	United States		Unemployment Rate
	United States		Nonfarm Productivity
	United States		JOLTS Job Openings
	United States		Initial Jobless Claims
	United States		Challenger Job Cuts
	United States		Labor Force Participation Rate
	United States		U6 Underemployment Rate
	United States		Employment Cost Index

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Unit Labor Costs

Most recent - Thursday, 5 June 12:30

Next event - Thursday, 7 August 12:30

Trading range

Trading range after each Unit Labor Costs event

Forecast history

Past events

Economic context

About Unit Labor Costs

Related events