In the United States, nonfarm business sector unit labor costs increased by 0.9 percent in the second 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 second quarter of 2020 to the second quarter of 2024
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Bureau of Labor Statistics. (August 1, 2024). Quarterly percent change in nonfarm business sector unit labor costs in the United States from the second quarter of 2020 to the second quarter of 2024 [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/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 second quarter of 2020 to the second quarter of 2024." Chart. August 1, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/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 second quarter of 2020 to the second quarter of 2024. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/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 Second Quarter of 2020 to The Second Quarter of 2024." Statista, Statista Inc., 1 Aug 2024, https://www-statista-com.ezproxy.canberra.edu.au/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 second quarter of 2020 to the second quarter of 2024 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/217148/quarterly-percent-change-in-nonfarm-business-sector-unit-labor-costs-in-the-us/ (last visited November 10, 2024)
Quarterly percent change in nonfarm business sector unit labor costs in the United States from the second quarter of 2020 to the second quarter of 2024 [Graph], Bureau of Labor Statistics, August 1, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/217148/quarterly-percent-change-in-nonfarm-business-sector-unit-labor-costs-in-the-us/
