FXStreet (Mumbai) – The UK Office for National Statistics (ONS) data showed the labor costs in the second quarter rose at a fastest rate since 2012.
Unit labor costs printed at 0.5% compared to 0.3% in Q1. Year-on-year the number came-in at 2.2%; which is the fastest rate since Q4 2012. Output per hour rose to a highest on record, printing at 0.9% q/q/ and 1.3% y/y compared to 0.5% in Q1.
The data is slightly positive as it highlights the rise in the wages as well as productivity.
(Market News Provided by FXstreet)