Third-quarter US unit labor costs revised down; private payr

U.S. unit labor costs were much weaker than initially thought in the third quarter amid robust worker productivity, providing a boost to the Federal Reserve's fight against inflation. The inflation outlook was further brightened by other data on Wednesday showing a moderation in wage growth in November. "The decline in labor costs points to a further slowdown in services inflation, the last front in the Fed's effort to bring inflation back to 2%," said Nancy Vanden Houten, lead U.S. economist at Oxford Economics in New York.

Related Keywords

Dallas , Texas , United States , Washington , New York , Bill Adams , Chizu Nomiyama , Lucia Mutikani , Labor Department Bureau Of Statistics , Comerica Bank , Reuters , National Employment , Federal Reserve , Stanford Digital Economy Lab , Nancy Vanden Houten , Oxford Economics , Labor Department , Labor Statistics , Wall Street , Employment Report , United Auto Workers , Worker Productivity , Labor Costs , Nflation Outlook , Interest Rates , Labor Market ,