U.S. manufacturing sector unit labor costs quarterly change 2020-2024
Manufacturing sector unit labor costs in the United States increased by 3.2 percent in the first quarter of 2024. 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.
