Consumer Price Index: Recreation and Culture (COICOP 09): Total for Hungary
Quarterly
HUNCP090000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.18
Year-over-Year Change
89.41%
Date Range
4/1/2007 - 7/1/2023
Summary
The Quarterly Nonfarm Business Sector: Unit Labor Costs Index measures the change in labor costs per unit of output produced in the U.S. nonfarm business sector, providing insights into 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
The Quarterly Nonfarm Business Sector: Unit Labor Costs Index is a key economic indicator that tracks the relationship between productivity and labor compensation. It helps analysts and policymakers understand how changes in wages, benefits, and productivity impact business costs and inflationary trends.
Methodology
The index is calculated by the U.S. Bureau of Labor Statistics based on data from the Productivity and Costs survey.
Historical Context
Unit labor costs are closely monitored by the Federal Reserve and other institutions to inform monetary policy decisions.
Key Facts
- Quarterly data series dating back to 1947.
- Reflects changes in both compensation and output per hour.
- Considered a leading indicator of inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: The Quarterly Nonfarm Business Sector: Unit Labor Costs Index measures the change in labor costs per unit of output in the U.S. nonfarm business sector.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a key indicator of inflationary pressures, as rising labor costs can drive increases in prices of goods and services.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Labor Statistics based on data from the Productivity and Costs survey.
Q: How is this trend used in economic policy?
A: Unit labor costs are closely monitored by the Federal Reserve and other institutions to inform monetary policy decisions aimed at maintaining price stability.
Q: Are there update delays or limitations?
A: The Quarterly Nonfarm Business Sector: Unit Labor Costs Index is released with a lag, typically 2-3 months after the end of the reference quarter.
Related Trends
Leading Indicators OECD: Reference series: Gross Domestic Product (GDP): Trend for Hungary
HUNLORSGPTDSTSAM
Consumer Price Index: Harmonized Prices: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Hungary
HUNCPHP0200GPM
Fertility Rate, Total for Hungary
SPDYNTFRTINHUN
Bank Z-Score for Hungary
DDSI01HUA645NWDB
Liquid Liabilities (Broad Money) for Hungary
DDOI07HUA648NWDB
Infra-Annual Labor Statistics: Working-Age Population Male: From 15 to 64 Years for Hungary
LFWA64MAHUQ647N
Citation
U.S. Federal Reserve, Quarterly Nonfarm Business Sector: Unit Labor Costs (HUNCP090000GPQ), retrieved from FRED.