The data from labor costs of the fourth quarter of 2021 were revised upwards, showing a rise of 0.9% in the unit labor cost index, above the expected increase of 0.3%.
The non-agricultural productivity had an increase of 6.6% in the quarter, below the 6.7% previously reported.
At the same time, a drop in initial requests for unemployment benefits was known. The dollar reacted with a modest raise.
More data will be released on Thursday, with service sector activity reports from IHS Markit PMI and the ISM. The factory orders report for January will also be released. Jerome Powell, chairman of the Federal Reserve, will speak for the second day in a row in Congress, this time before a Senate committee. The official employment report for February will arrive on Friday, with non-farm payrolls.
Source: Fx Street
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