Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Unit Labor Costs: Total for Switzerland
Growth rate same period previous year, Seasonally Adjusted
ULQEUL01CHQ659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.04
Year-over-Year Change
-101.35%
Date Range
1/1/1996 - 1/1/2025
Summary
This economic trend measures the year-over-year growth rate of seasonally adjusted unit labor costs for the U.S. nonfarm business sector. It provides insights into the inflation dynamics and productivity changes affecting the overall economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Unit labor costs represent the cost of labor required to produce one unit of output. This metric is closely watched by economists and policymakers as an indicator of inflationary pressures and competitive productivity within the U.S. economy.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using establishment survey information on employee compensation and output.
Historical Context
The growth rate of unit labor costs is a key input considered by the Federal Reserve in setting monetary policy to achieve its objectives of price stability and maximum employment.
Key Facts
- Unit labor costs grew 2.4% in the 4th quarter of 2022 compared to the same period in 2021.
- Productivity increased 3.0% in the 4th quarter of 2022, while compensation per hour rose 5.5%.
- The Federal Reserve closely monitors unit labor cost growth as a gauge of domestic inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: This trend measures the year-over-year growth rate of seasonally adjusted unit labor costs in the U.S. nonfarm business sector. Unit labor costs represent the cost of labor required to produce one unit of output.
Q: Why is this trend relevant for users or analysts?
A: Unit labor cost growth is a key indicator of inflationary pressures and productivity changes in the overall economy, making it highly relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using establishment survey information on employee compensation and output.
Q: How is this trend used in economic policy?
A: The Federal Reserve closely monitors the growth rate of unit labor costs as a gauge of domestic inflationary pressures, which informs their monetary policy decisions aimed at achieving price stability and maximum employment.
Q: Are there update delays or limitations?
A: The unit labor cost data is published quarterly by the Bureau of Labor Statistics, with a typical lag of 2-3 months after the end of the reference period.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Seasonally Adjusted (ULQEUL01CHQ659S), retrieved from FRED.