U.S. labor costs rose less than expected in the fourth quarter, pointing to low inflation even as anecdotal evidence suggests that wage growth is picking up as the labor market tightens.
U.S. labor costs maintained a steady pace of increase in the third quarter, showing little signs of a significant pickup in wage inflation.
U.S. labor costs accelerated in the third quarter as the jobs market continued to tighten, but remained well below levels that would push inflation closer to the Fed's target.