New data Unit Labour Costs QoQ (Q2)
9/5/2024
actual 0.4, previous 3.8
The event is the Unit Labour Costs QoQ (Quarter-on-Quarter) for the second quarter of the year in the United States. The actual value reported is 0.4%, which is lower than the previous value of 3.8%. This indicates a decrease of 3.4 percentage points from the previous quarter. The market had estimated the value to be 0.8%, so the actual value is lower than the market expectations.Unit Labour Costs measure the cost of labor for producing one unit of output and are an important indicator of inflationary pressures in the economy. A decrease in unit labor costs can be seen as positive for businesses as it may indicate improved productivity or lower wage pressures.
Overall, the impact of this event is considered low, but it provides valuable insights into the labor market and inflation dynamics in the US economy.
This is not investment advice. Remember to verify the information provided here.
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