This is the smallest increase since the fourth quarter of 2021 and follows a 1.2 percent rise in the July-September period.
Economists polled by Archyde.com had expected the index to rise 1.1 percent. Labor costs rose 5.1 percent year on year, after rising 5 percent in the third quarter.
It is expected to raise US Federal Reserve Interest rate by 25 basis points at the end of its meeting, Wednesday.
The US economy added more jobs last December than expected.
According to data from the US Department of Labor, in early January, the number of new jobs in the private sector rose in December to 223,000 jobs, while expectations were for an increase of 200,000 jobs.
And it was US economy It added 263 new jobs in November 2022.
As shown in the jobs report United State The non-farm private sector added 220 thousand jobs in December, above the median forecast of only 180 thousand jobs.
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And she said US Department of LaborOn Tuesday, the Employment Cost Index, the broadest measure of labor costs, rose 1% in the fourth quarter of 2022.
This is the smallest increase since the fourth quarter of 2021 and follows a 1.2 percent rise in the July-September period.
Economists polled by Archyde.com had expected the index to rise 1.1 percent. Labor costs rose 5.1 percent year on year, after rising 5 percent in the third quarter.
It is expected to raise US Federal Reserve Interest rate by 25 basis points at the end of its meeting, Wednesday.
The US economy added more jobs last December than expected.
According to data from the US Department of Labor, in early January, the number of new jobs in the private sector rose in December to 223,000 jobs, while expectations were for an increase of 200,000 jobs.
And it was US economy It added 263 new jobs in November 2022.
As shown in the jobs report United State The non-farm private sector added 220 thousand jobs in December, above the median forecast of only 180 thousand jobs.