U.S. unit labor costs - quarterly change in the nonfarm business sector 2017-2020
In the United States, nonfarm business sector unit labor costs increased by 6.8 percent in the fourth quarter of 2020 compared to the previous quarter. The data are seasonally adjusted at annual rates. Unit labor costs describe the relationship between compensation per hour and productivity, or real output per hour, and can be used as an indicator of inflationary pressure on producers. Increases in hourly compensation increase unit labor costs; labor productivity increases offset compensation increases and lower unit labor costs.
