Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Labor Productivity: Total for Hungary
ULQELP01HUQ661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.61
Year-over-Year Change
6.98%
Date Range
1/1/1995 - 7/1/2023
Summary
This economic indicator tracks the early estimate of quarterly unit labor costs, which measure the average cost of labor per unit of output produced in Hungary. It is a key metric for assessing labor productivity and 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 (ULC) are a measure of the average cost of labor per unit of output. The early estimate of quarterly ULC for Hungary provides a timely signal of productivity trends and cost-push inflation factors for the economy.
Methodology
The data is calculated by the U.S. Federal Reserve based on measures of labor productivity and compensation.
Historical Context
Policymakers and analysts use ULC data to evaluate the competitive position of the Hungarian economy and inflationary risks.
Key Facts
- Quarterly measure of average labor costs per unit of output in Hungary.
- A key indicator of competitiveness and inflationary pressures.
- Calculated based on measures of labor compensation and productivity.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the early estimate of quarterly unit labor costs (ULC) in Hungary, which reflect the average cost of labor per unit of output produced.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a crucial metric for assessing labor productivity, international competitiveness, and inflationary pressures in the Hungarian economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on measures of labor productivity and compensation.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use ULC data to evaluate the competitive position of the Hungarian economy and inflationary risks, informing monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The early estimate of quarterly ULC data may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Labor Productivity: Total for Hungary (ULQELP01HUQ661S), retrieved from FRED.