US Q3 non-farm productivity final report now out 6 Dec

  • 3.0% prelim reading
  • output increased 4.1%
  • hours worked increased 1.1%
  • unit labour costs final -0.2% vs 0.2% exp vs 0.5% prev

Soggy labour costs reading won't please the Fed. Or indeed the workers.

USD sellers prevailing again with USDJPY testing 112.00 and GBPUSD up around 1.3385 res

BLS calculates unit labour costs as the ratio of hourly compensation to labour productivity. Increases in hourly compensation tend to increase unit labour costs, and increases in output per hour tend to reduce them.

Labour productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked by all persons, including employees, proprietors, and unpaid family workers.

Full report here