Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Unit Labor Costs: Total for Hungary
ULQEUL01HUQ661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
155.97
Year-over-Year Change
33.52%
Date Range
1/1/1995 - 7/1/2023
Summary
The Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Unit Labor Costs: Total for Hungary measures the average cost of labor per unit of output produced in the Hungarian 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
This indicator provides an early estimate of changes in unit labor costs, which reflect the total labor costs required to produce one unit of output. It is a key metric for analyzing productivity, inflation, and competitiveness trends in the Hungarian economy.
Methodology
The data is calculated by the U.S. Federal Reserve based on labor compensation and productivity statistics reported by the Hungarian government.
Historical Context
Unit labor cost trends are closely monitored by policymakers, central banks, and market analysts to assess macroeconomic conditions and inflationary pressures.
Key Facts
- Unit labor costs rose 5.7% in Q4 2022 compared to the prior year.
- Increasing unit labor costs can signal rising inflationary pressures.
- Hungary's unit labor costs are monitored by the European Central Bank.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average cost of labor per unit of output produced in the Hungarian economy.
Q: Why is this trend relevant for users or analysts?
A: Unit labor cost trends are closely watched as a key signal of productivity, inflation, and economic competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on labor compensation and productivity statistics reported by the Hungarian government.
Q: How is this trend used in economic policy?
A: Policymakers, central banks, and market analysts monitor unit labor cost trends to assess macroeconomic conditions and inflationary pressures.
Q: Are there update delays or limitations?
A: The data provides an early estimate of quarterly unit labor costs and may be subject to later revisions.
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Citation
U.S. Federal Reserve, Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Unit Labor Costs: Total for Hungary (ULQEUL01HUQ661N), retrieved from FRED.