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U.S. unit labor costs decline for two straight quarters

(Dec. 6, 2017) -- U.S. unit labor costs were much weaker than initially thought, declining both in the second and third quarters of this year, suggesting that inflation could remain benign for a while.

WASHINGTON — U.S. unit labor costs were much weaker than initially thought, declining both in the second and third quarters of this year, suggesting that inflation could remain benign for a while.

The Labor Department said on Wednesday that unit labor costs, the price of labor per single unit of output, dropped at a 0.2 percent annualized rate in the last quarter instead of rising at a 0.5 percent pace as reported last month.

Read the full story from Reuters.

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About Rebecca Smith

Rebecca Smith is a Wisconsin native currently living in Illinois with her husband, Eric, and two dogs, Maggie and Grace. She enjoys hiking, biking, kayaking and, of course, camping in cabins and park models.

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