US LABOR COST GROWTH

U.S. labor costs increased slightly less than expected in the third quarter as a softening labor market curbed wage growth, which bodes well for the inflation outlook.

The Labor Department on Wednesday followed on the heels of data on Tuesday showing resignations dropped to a five-year low in October. That supported views by Federal Reserve officials that the labor market was not a source of inflation. The labor market is easing amid low supply and demand for workers blamed by economists on reduced immigration and import tariffs. Import duties have boosted prices of some goods.

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