Quarterly
LRAC24FEO1Q156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43.20
Year-over-Year Change
0.93%
Date Range
1/1/2005 - 4/1/2017
Summary
The 'Quarterly' trend measures the labor cost per unit of real output in the manufacturing sector. It is a key indicator of productivity and a key input for policymakers to analyze economic conditions.
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' series tracks the labor cost per unit of real output, also known as unit labor cost, in the U.S. manufacturing sector. This metric provides insights into labor productivity and the relationship between wages and prices, which are crucial for understanding economic performance and inflationary pressures.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of manufacturing output and labor compensation.
Historical Context
Policymakers and analysts closely monitor unit labor cost trends to assess the underlying drivers of inflation and make informed decisions about monetary and fiscal policies.
Key Facts
- Unit labor cost in manufacturing increased by 3.2% in the fourth quarter of 2022.
- Manufacturing productivity grew by 1.8% in 2022.
- The manufacturing sector accounts for about 11% of the U.S. GDP.
FAQs
Q: What does this economic trend measure?
A: The 'Quarterly' trend measures the labor cost per unit of real output in the U.S. manufacturing sector, which is a key indicator of productivity and labor costs.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the relationship between wages, prices, and productivity, which are crucial for understanding economic performance and inflationary pressures.
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 manufacturing output and labor compensation.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor unit labor cost trends to assess the underlying drivers of inflation and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is published quarterly, and there may be minor revisions to historical data as more information becomes available.
Related Trends
Harmonized Unemployment: Monthly Levels: Aged 25 and over: All Persons for OECD
OECDLFHUADTTSTM
Infra-Annual Labor Statistics: Working-Age Population Female: From 15 to 64 Years for OECD
OECDLFWA64FESTSAQ
Infra-Annual Labor Statistics: Employment Total: 15 Years or over for OECD
OECDLFEMTTTTGPQ
Balance of Payments: Other Investment: Assets (or Net Acquisition of Assets) for OECD
OECDB6FAOI02CXCUQ
Sales: Retail Trade: Total
OECDSLRTTO01GPSAM
Infra-Annual Labor Statistics: Employment Rate Male: From 15 to 64 Years for OECD
OECDLREM64MASTSAQ
Citation
U.S. Federal Reserve, Quarterly (LRAC24FEO1Q156N), retrieved from FRED.