Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Unit Labor Costs: Total for Estonia
Index 2015=100, Not Seasonally Adjusted
ULQEUL01EEQ661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
162.41
Year-over-Year Change
35.37%
Date Range
1/1/1993 - 7/1/2023
Summary
This economic trend measures the index of unit labor costs in the United States, a key indicator of 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
The unit labor cost index tracks changes in the price of labor per unit of output, providing insights into the relationship between wages, productivity, and the overall cost structure of the economy.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of hourly compensation and labor productivity.
Historical Context
The unit labor cost index is closely monitored by policymakers, economists, and market analysts for its implications on inflation, competitiveness, and the overall health of the U.S. economy.
Key Facts
- The index is set to 100 in 2015 for reference.
- Rising unit labor costs can signal increased inflationary pressures.
- Tracking this metric helps assess the international competitiveness of U.S. industries.
FAQs
Q: What does this economic trend measure?
A: The index of unit labor costs measures changes in the price of labor per unit of output in the United States economy.
Q: Why is this trend relevant for users or analysts?
A: The unit labor cost index provides insights into labor productivity, inflation pressures, and the overall cost structure of the economy, making it a closely watched metric by policymakers, economists, and market analysts.
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 hourly compensation and labor productivity.
Q: How is this trend used in economic policy?
A: The unit labor cost index is used by policymakers, economists, and market analysts to assess inflationary pressures, international competitiveness, and the overall health of the U.S. economy.
Q: Are there update delays or limitations?
A: The unit labor cost index is released quarterly by the U.S. Bureau of Labor Statistics, with some delay relative to the reference period.
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Citation
U.S. Federal Reserve, Index 2015=100, Not Seasonally Adjusted (ULQEUL01EEQ661N), retrieved from FRED.