Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 25 to 54 Years for Ireland
Quarterly, Not Seasonally Adjusted
LRAC25TTIEQ156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
88.30
Year-over-Year Change
2.20%
Date Range
4/1/1999 - 1/1/2025
Summary
The 'Quarterly, Not Seasonally Adjusted' trend measures unit labor costs in the nonfarm business sector of the U.S. economy. This metric is a key indicator of inflationary pressure and a critical input for policymakers assessing the health of the 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
Unit labor costs track the average cost of labor per unit of output, reflecting a combination of wage changes and productivity. This metric provides insight into how efficiently businesses are using their workforce and can signal underlying inflationary or deflationary forces in the economy.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using a formula that divides hourly compensation by output per hour.
Historical Context
Policymakers at the Federal Reserve closely monitor unit labor costs as they make decisions about monetary policy and managing inflation.
Key Facts
- Unit labor costs rose 5.5% in Q3 2022.
- This metric increased for the 7th consecutive quarter.
- High unit labor costs can signal a need for interest rate hikes.
FAQs
Q: What does this economic trend measure?
A: The 'Quarterly, Not Seasonally Adjusted' trend measures unit labor costs in the nonfarm business sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a key indicator of inflationary pressure and provide insight into the efficiency of the workforce, making this metric crucial for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using a formula that divides hourly compensation by output per hour.
Q: How is this trend used in economic policy?
A: Policymakers at the Federal Reserve closely monitor unit labor costs as they make decisions about monetary policy and managing inflation.
Q: Are there update delays or limitations?
A: The data is released quarterly, with a delay of approximately one month after the end of the reference period.
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Citation
U.S. Federal Reserve, Quarterly, Not Seasonally Adjusted (LRAC25TTIEQ156N), retrieved from FRED.