The fourth quarter 2017 productivity report
- Prior was +3.0% (revised to +2.7%)
- Unit labor costs +2.0% vs +0.9% expected
- Prior unit labor costs -0.2% (revised to -0.1%)
That's a big bounceback in unit labor costs after the fall in Q3. With the drop in productivity, that's not the greatest sign for the economy, but it is a sign of wage inflation -- at least until we're all replaced by robots.
Here's a look at unit labor costs with the four-quarter moving average.
