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Quarterly
CCUSSP02INQ650N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
83.27
Year-over-Year Change
13.99%
Date Range
1/1/1960 - 10/1/2023
Summary
The Quarterly Nonfarm Business Sector: Unit Labor Costs (CCUSSP02INQ650N) measures the growth in labor costs per unit of output in the U.S. nonfarm business sector. It is a key indicator of inflationary pressures.
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 are a crucial metric that captures the relationship between compensation and productivity. Economists and policymakers monitor this series to assess the underlying drivers of inflation and make informed decisions.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using compensation and productivity data from the nonfarm business sector.
Historical Context
This metric helps the Federal Reserve and other institutions evaluate the need for monetary policy adjustments to maintain price stability.
Key Facts
- Unit labor costs rose 5.5% in Q4 2022.
- Productivity growth has slowed in recent quarters.
- High unit labor costs can contribute to broader inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: The Quarterly Nonfarm Business Sector: Unit Labor Costs measures the growth in labor costs per unit of output in the U.S. nonfarm business sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists and policymakers as an indicator of inflationary pressures and the relationship between compensation and productivity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using compensation and productivity data from the nonfarm business sector.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other institutions monitor this metric to evaluate the need for monetary policy adjustments to maintain price stability.
Q: Are there update delays or limitations?
A: The data is released quarterly, and there may be revisions to previous periods as more information becomes available.
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Citation
U.S. Federal Reserve, Quarterly Nonfarm Business Sector: Unit Labor Costs (CCUSSP02INQ650N), retrieved from FRED.