US: Unit Labor Costs decline by 6.6% in Q3 vs. 8.9% expected

• Unit Labor Costs in US declined at a softer pace than expected in Q3.
• US Dollar Index continues to fluctuate below 91.00 after the data.

Unit Labor Costs in the US' nonfarm business sector fell by 6.6% on a yearly basis in the third quarter, the data published by the US Bureau of Labor Statistics showed on Tuesday. This reading came in higher than the previous estimate and the market expectation for a decline of 8.9%.

Further details of the publication revealed that Labor Productivity in the nonfarm business sector increased by 4.6% in the same period, compared to analysts' estimate of 5%.

Market reaction 

The US Dollar Index showed no immediate reaction to this headline and was last seen posting small daily gains at 90.84.