US Q1 unit labor costs prelim +5.7% vs +5.1% expected

• Prior was +2.2% (revised to 2.0%)
• Productivity prelim -0.8% vs -0.7% expected
• Prior productivity +1.5% (revised to +1.7%)

There is an inflationary impulse in these numbers but it’s a tough report to extrapolate from because it’s choppy and more of a lagging indicator than a leading one.

This article was written by Adam Button at www.forexlive.com.