Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Labor Productivity: Total for Hungary
Index 2015=100, Not Seasonally Adjusted
ULQELP01HUQ661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114.93
Year-over-Year Change
7.06%
Date Range
1/1/1995 - 7/1/2023
Summary
The 'Index 2015=100, Not Seasonally Adjusted' measures manufacturing unit labor costs in the United States. This metric is a key economic indicator tracked by policymakers and analysts to assess labor productivity and inflation 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
This index tracks changes in the costs of labor input per unit of output produced in the U.S. manufacturing sector. It is a useful gauge of competitiveness and inflationary trends, providing insights into the relationship between wages, productivity, and prices.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of manufacturing output and employee compensation.
Historical Context
Manufacturing unit labor costs are closely monitored by the Federal Reserve and other economic institutions to inform monetary and fiscal policy decisions.
Key Facts
- The index uses 2015 as the base year with a value of 100.
- Unit labor costs reflect the average cost of labor per unit of output.
- Rising unit labor costs can signal increased inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: This index measures manufacturing unit labor costs in the United States, which reflect the average cost of labor per unit of output produced.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing unit labor costs are a key economic indicator tracked by policymakers and analysts to assess labor productivity and inflationary pressures in the economy.
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 manufacturing output and employee compensation.
Q: How is this trend used in economic policy?
A: Manufacturing unit labor costs are closely monitored by the Federal Reserve and other economic institutions to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is released by the U.S. Bureau of Labor Statistics on a regular schedule, with no significant update delays or limitations.
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Citation
U.S. Federal Reserve, Index 2015=100, Not Seasonally Adjusted (ULQELP01HUQ661N), retrieved from FRED.