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- US: Unit Labour Costs rise 12.6% QoQ in Q1 2022, versus expected 11.6% gain
US: Unit Labour Costs rise 12.6% QoQ in Q1 2022, versus expected 11.6% gain
- Unit Labour Cost growth was revised higher to 12.6% QoQ from 11.6% for Q1 2022.
- The DXY saw some initial strength though this has now been pared.
The second estimate of Unit Labour Cost growth in the first quarter of 2022 was revised higher to 12.6% QoQ from an initial estimate of 11.6%, according to the latest data released by the Bureau of Labour Statistics and Department of Labour released on Thursday.
Market Reaction
In wake of data showing that wage pressures were even higher than expected in the first quarter of this year, the DXY saw some initial upside, though has since pared most of this back and continues to trade close to lows of the day.
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