Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Unit Labor Costs: Total for Australia
Index 2015=100, Not Seasonally Adjusted
ULQEUL01AUQ661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
127.14
Year-over-Year Change
12.00%
Date Range
7/1/1966 - 7/1/2023
Summary
The 'Index 2015=100, Not Seasonally Adjusted' series measures the hourly compensation costs for production and nonsupervisory employees in the United States. This metric is a key economic indicator tracked by policymakers and analysts.
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 total hourly compensation, including wages and benefits, for U.S. workers in the private nonfarm business sector. It is a widely used gauge of inflationary pressures and labor market conditions.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics (CES) survey.
Historical Context
Economists and policymakers closely monitor this index to assess the state of the labor market and inflationary trends.
Key Facts
- The index has a base year of 2015 = 100.
- It covers production and nonsupervisory employees in the private nonfarm business sector.
- The index is published monthly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This index measures changes in total hourly compensation, including wages and benefits, for production and nonsupervisory employees in the U.S. private nonfarm business sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of labor market conditions and inflationary pressures, making it highly relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics (CES) survey.
Q: How is this trend used in economic policy?
A: Policymakers and central banks closely monitor this index to assess the state of the labor market and inflationary trends, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The index is published monthly by the U.S. Bureau of Labor Statistics, with a typical release lag of a few weeks.
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Citation
U.S. Federal Reserve, Index 2015=100, Not Seasonally Adjusted (ULQEUL01AUQ661N), retrieved from FRED.