Annual, Not Seasonally Adjusted
LRAC25TTO1A156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81.90
Year-over-Year Change
1.74%
Date Range
1/1/2005 - 1/1/2016
Summary
This annual, not seasonally adjusted trend measures the average hourly labor costs in the United States, a key metric for understanding 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
The Labor Productivity and Costs (LPC) series tracks changes in labor productivity, hourly compensation, and unit labor costs for the U.S. nonfarm business sector. This data is widely used by economists and policymakers to assess economic conditions and guide decisions.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and households.
Historical Context
Trends in labor productivity and costs provide important context for monetary and fiscal policy decisions.
Key Facts
- U.S. labor productivity grew by 1.8% in 2021.
- Unit labor costs rose 6.5% in 2021.
- Nonfarm business sector hourly compensation increased 4.5% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures changes in average hourly labor costs for the U.S. nonfarm business sector, including wages, benefits, and productivity.
Q: Why is this trend relevant for users or analysts?
A: Labor productivity and costs are crucial indicators of economic performance and inflationary pressures, informing decisions by policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and households.
Q: How is this trend used in economic policy?
A: Trends in labor productivity and costs provide important context for monetary and fiscal policy decisions by the Federal Reserve and other institutions.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Bureau of Labor Statistics, with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Labor Productivity and Costs: Annual, Not Seasonally Adjusted (LRAC25TTO1A156S), retrieved from FRED.