Details of the Q3 2016 UK unit labour costs report 6 January 2017
Prior 1.9%
0.8% vs 1.4% prior q/q
Output per hour 0.4% vs 0.2% prior q/q
"These estimates of productivity show that while labour productivity is improving, particularly in the services sector, it is still weak compared to that experienced in the recent past, both in terms of the level of productivity and the rate of growth. ONS is continuing to explore potential reasons for this." Richard Heys, Deputy Chief Economist, ONS
When they find a reason, Carney would like to know.
