In the United States, nonfarm business sector unit labor costs increased by 1.9 percent in the third quarter of 2024 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.
Quarterly percent change in nonfarm business sector unit labor costs in the United States from the third quarter of 2020 to the third quarter of 2024
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Bureau of Labor Statistics. (November 7, 2024). Quarterly percent change in nonfarm business sector unit labor costs in the United States from the third quarter of 2020 to the third quarter of 2024 [Graph]. In Statista. Retrieved November 23, 2024, from https://www.statista.com/statistics/217148/quarterly-percent-change-in-nonfarm-business-sector-unit-labor-costs-in-the-us/
Bureau of Labor Statistics. "Quarterly percent change in nonfarm business sector unit labor costs in the United States from the third quarter of 2020 to the third quarter of 2024." Chart. November 7, 2024. Statista. Accessed November 23, 2024. https://www.statista.com/statistics/217148/quarterly-percent-change-in-nonfarm-business-sector-unit-labor-costs-in-the-us/
Bureau of Labor Statistics. (2024). Quarterly percent change in nonfarm business sector unit labor costs in the United States from the third quarter of 2020 to the third quarter of 2024. Statista. Statista Inc.. Accessed: November 23, 2024. https://www.statista.com/statistics/217148/quarterly-percent-change-in-nonfarm-business-sector-unit-labor-costs-in-the-us/
Bureau of Labor Statistics. "Quarterly Percent Change in Nonfarm Business Sector Unit Labor Costs in The United States from The Third Quarter of 2020 to The Third Quarter of 2024." Statista, Statista Inc., 7 Nov 2024, https://www.statista.com/statistics/217148/quarterly-percent-change-in-nonfarm-business-sector-unit-labor-costs-in-the-us/
Bureau of Labor Statistics, Quarterly percent change in nonfarm business sector unit labor costs in the United States from the third quarter of 2020 to the third quarter of 2024 Statista, https://www.statista.com/statistics/217148/quarterly-percent-change-in-nonfarm-business-sector-unit-labor-costs-in-the-us/ (last visited November 23, 2024)
Quarterly percent change in nonfarm business sector unit labor costs in the United States from the third quarter of 2020 to the third quarter of 2024 [Graph], Bureau of Labor Statistics, November 7, 2024. [Online]. Available: https://www.statista.com/statistics/217148/quarterly-percent-change-in-nonfarm-business-sector-unit-labor-costs-in-the-us/
