US: Unit Labor Costs rise by 1.7% in Q1 vs -0.4% expected

• Unit Labor Costs in US rose more than 1% in Q1.
• US Dollar Index stays in the positive territory around 90.20.

Unit Labor Costs in the US nonfarm business sector rose by 1.7% on yearly basis in the first quarter, the US Bureau of Labor Statistics reported on Thursday. This reading came in stronger than the market expectation for a decrease of 0.4%.

Additional details of the report revealed that the nonfarm business sector labor productivity increased 5.4%, falling a little short of analysts' estimate of 5.5%.

Market reaction

The US Dollar Index preserves its bullish momentum after this report and was last seen gaining 0.33% at 90.20.