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U.S. third-quarter labor costs revised sharply higher

Reuters2021-12-07

WASHINGTON (Reuters) - U.S. unit labor costs surged more than initially thought in the third quarter, suggesting inflation could remain high for a while.

The Labor Department said on Tuesday that unit labor costs, the price of labor per single unit of output, accelerated at a 9.6% annualized rate last quarter. That was revised up from the 8.3% pace reported in November.

Labor costs rose at a 5.9% pace in the April-June quarter. They increased at a 6.3% rate compared to a year ago, instead of the previously reported 4.8% rate.

Economists polled by Reuters had forecast unit labor costs would rise at an unrevised 8.3% pace.

Pandemic-related shortages amid snarled supply chains have boosted inflation well above the Federal Reserve's 2% target. Wages are also rising as companies scramble for workers.

Hourly compensation increased at a 3.9% rate in the third quarter, rather than at a 2.9% rate as previously reported.

The surge in labor costs came at the expense of worker productivity, which fell at a downwardly revised 5.2% rate last quarter. Productivity was previously reported to have tumbled at a 5.0% pace. It grew at a 2.4% pace in the April-June quarter.

Compared to the third quarter of 2020, productivity fell at a 0.6% rate. It was previously reported to have declined at a 0.5% rate. Hours worked increased at a 7.4% rate last quarter, revised up from the previously estimated 7.0 pace.

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评论7

  • KEINS
    ·2021-12-08
    你看到的是用工成本增加??百姓看到的是给工人涨工资!呵呵
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  • Natlow
    ·2021-12-07
    Ok
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    • gsz
      ok
      2021-12-08
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    • Natlow
      ok
      2021-12-07
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  • 458fd99c
    ·2021-12-07
    Gg
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    • Jackyjw
      Ok
      2021-12-07
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    • 458fd99c
      Ga
      2021-12-07
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  • addyloh
    ·2021-12-07
    Wow
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    • 458fd99c
      Ya
      2021-12-07
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  • Alannjy
    ·2021-12-07
    Like
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  • szueyann
    ·2021-12-07
    Like and comment. Thanks. 
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    • addyloh
      👍🏻
      2021-12-07
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    • Alannjy
      Like
      2021-12-07
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  • ORNEGU
    ·2021-12-07
    up
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    • koolgal
      To the moon
      2021-12-12
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