Percent Change, Annual, Not Seasonally Adjusted
HUNULCCONAPNMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.52
Year-over-Year Change
-59.35%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures the annual percent change in unit labor costs for the Hungarian economy, providing insight into 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 represent the average cost of labor per unit of output, and changes in this metric can signal shifts in a country's competitiveness and cost-push inflation. Economists and policymakers analyze this data to better understand the broader economic climate.
Methodology
The data is calculated by the U.S. Federal Reserve based on measures of output, employment, and labor compensation.
Historical Context
This trend is closely watched by market analysts and central banks to assess macroeconomic conditions and inform policy decisions.
Key Facts
- Hungary's unit labor costs rose by 4.2% in 2021.
- Unit labor costs provide a measure of price competitiveness.
- Changes in unit labor costs can signal inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual percent change in unit labor costs for the Hungarian economy, which reflects the average cost of labor per unit of output.
Q: Why is this trend relevant for users or analysts?
A: Changes in unit labor costs can provide insights into a country's labor productivity, price competitiveness, and potential inflationary pressures, making this data relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on measures of output, employment, and labor compensation.
Q: How is this trend used in economic policy?
A: Central banks and other policymakers closely monitor unit labor cost trends to assess macroeconomic conditions and inform policy decisions, such as adjustments to interest rates or other measures to manage inflation.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions common to macroeconomic indicators compiled by statistical agencies.
Related Trends
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Total for Hungary
HUNCPIALLAINMEI
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: All Items Non-Food Non-Energy for Hungary
CPGRLE01HUA659N
Infra-Annual Labor Statistics: Employment Rate Total: From 15 to 64 Years for Hungary
LREM64TTHUA156N
Harmonized Index of Consumer Prices: Liquid Fuels and Fuels and Lubricants for Hungary
FUELS0HUM086NEST
Amount Outstanding of Total Debt Securities in General Government Sector, All Maturities, Residence of Issuer in Hungary
TDSAMRIAOGGHU
Amount Outstanding of Domestic Debt Securities for Non-financial Corporations Issuers, All Maturities, Residence of Issuer in Hungary
DSAMRIAONCHU
Citation
U.S. Federal Reserve, Percent Change, Annual, Not Seasonally Adjusted (HUNULCCONAPNMEI), retrieved from FRED.