Prior was 2.3% Productivity +1.4% vs +0.6% expected Prior productivity was +0.8% This isn’t really a useful report because productivity is so hard to measure and it’s often revised many times.
In theory, unit labor costs are a critical inflation number but it’s rarely a market mover because measuring it is so variable quarter-to-quarter
The dollar has much bigger questions to answer at the moment with all the intervention in the yen. The Treasury market also doesn’t like what it’s been hearing from Bessent. am Button