US Q1 unit labor costs revised +6.6% vs +5.7% expected

  • US Q1 unit labor cost data
  • Prelim was +5.7% vs +2.0% prior
  • Productivity -1.5% vs -0.8% prelim
  • Prior productivity +1.7%

On face value, there's some inflationary pressure here with labour costs higher and productivity lower but it's volatile and lagging data.

unit labour costs
unit labour costs

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