US Q1 unit labour costs revised higher

(Sharecast News) - Price pressures from the US jobs market intensified by more than expected during the first three months of 2025, as the economy shrank. Compounding matters, labour productivity growth also fell by more than expected during the first quarter.

According to the Department of Labor, in seasonally adjusted terms non-farm unit labour costs jumped at a quarterly annualised pace of 6.6%.

That was worse than preliminary estimate from Labor of a 5.7% rise.

Labour productivity meanwhile dropped by 1.5% (consensus: -0.7%), as the number of hours worked grew 1.3% yet output dipped 0.2%.