- Unit labor costs in the United States increased in the second quarter.
- The US Dollar Index remains afloat in the positive territory above 93.00.
After contracting 2.8% in the first quarter, unit labor costs in the United States increased 1% in the second quarter, the US Bureau of Labor Statistics reported Tuesday. This reading disappointed market expectations of a 1.1% increase.
Other details in the release revealed that nonfarm productivity rose 2.3% in the same period, compared to analysts’ estimate of 3.5%.
Market reaction
This report does not appear to be having a noticeable impact on the performance of the dollar against its rivals. At the time of writing, the US Dollar Index was up 0.08% on the day at 93.05.
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