Unit Labour Costs in the US rose at a QoQ pace of 11.6% in Q1 2022, well above the expected 9.9% rise on the quarter and following a 0.9% QoQ rise in Q4 of last year, data released by the Bureau of Labour Statistics on Thursday showed. The QoQ rate of non-farm productivity growth in Q1 2022 came in at -7.5%, below expectations for a 5.4% drop, coming on the heels of Q4 2021's 6.3% QoQ gain. 

Market Reaction

FX markets seemingly did not react to the latest weekly jobless claims figures.