US: Unit Labor Costs increase by 6.8% in Q4 vs. 3.9% expected

• Unit Labor Costs in US rose more than expected in Q4.
• US Dollar Index stays in the positive territory near 91.30.

Unit Labor Costs in the US' nonfarm business sector rose by 6.8% on yearly basis in the fourth quarter, the advanced estimate published by the US Bureau of Labor Statistics showed on Thursday. This reading followed the 7% decline recorded in the third quarter and came in higher than the market expectation of 3.9%.

Further details of the publication revealed that the Nonfarm Productivity in the same period declined by 4.8%, compared to analysts' estimate for a decrease of 2.8%.

Market reaction

The US Dollar Index largely ignored this report and was last seen gaining 0.17% on the day at 91.33.