Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Labor Compensation per Unit of Labor Input: Total for Hungary
Index 2015=100, Seasonally Adjusted
ULQECU01HUQ661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
186.34
Year-over-Year Change
43.90%
Date Range
1/1/1995 - 7/1/2023
Summary
The Index 2015=100, Seasonally Adjusted measures changes in unit labor costs for the U.S. manufacturing sector. This metric is a key indicator of labor productivity and cost pressures within the 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 average cost of labor per unit of output. This index tracks how labor costs evolve relative to productivity, providing insights into inflationary trends and the competitiveness of U.S. manufacturers.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of output, employment, and compensation.
Historical Context
Economists and policymakers monitor unit labor costs to assess the health of the manufacturing sector and gauge underlying inflationary pressures.
Key Facts
- The index is benchmarked to 2015 = 100.
- Unit labor costs rose 2.4% in 2022 compared to the prior year.
- High unit labor costs can signal a loss of manufacturing competitiveness.
FAQs
Q: What does this economic trend measure?
A: The Index 2015=100, Seasonally Adjusted measures changes in unit labor costs for the U.S. manufacturing sector. It tracks how labor costs evolve relative to productivity.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a key indicator of labor productivity and cost pressures within the economy. Monitoring this metric provides insights into inflationary trends and the competitiveness of U.S. manufacturers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on measures of output, employment, and compensation.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor unit labor costs to assess the health of the manufacturing sector and gauge underlying inflationary pressures.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Index 2015=100, Seasonally Adjusted (ULQECU01HUQ661S), retrieved from FRED.