Quarterly, Seasonally Adjusted
LRAC55FEO1Q156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54.20
Year-over-Year Change
5.24%
Date Range
1/1/2005 - 4/1/2017
Summary
This economic indicator measures the unit labor costs in the Nonfarm Business Sector on a quarterly, seasonally adjusted basis. It provides insights into productivity, inflation, and overall economic performance.
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 cost of labor per unit of output. This metric is a key statistic used by economists and policymakers to analyze labor market dynamics, productivity trends, and inflationary pressures in the broader economy.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of output and compensation.
Historical Context
The Quarterly, Seasonally Adjusted Unit Labor Costs series is a valuable input for Federal Reserve monetary policy decisions and economic forecasting.
Key Facts
- Unit labor costs rose 2.4% in Q4 2022 compared to the previous quarter.
- Labor productivity decreased 3.0% in Q4 2022 in the nonfarm business sector.
- Hourly compensation increased 5.1% in Q4 2022 on a seasonally adjusted basis.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the unit labor costs in the Nonfarm Business Sector on a quarterly, seasonally adjusted basis. It represents the cost of labor per unit of output.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a key statistic used by economists and policymakers to analyze labor market dynamics, productivity trends, and inflationary pressures in the broader economy.
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 output and compensation.
Q: How is this trend used in economic policy?
A: The Quarterly, Seasonally Adjusted Unit Labor Costs series is a valuable input for Federal Reserve monetary policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: The data is released quarterly, with a typical delay of about 2 months after the end of the reference quarter.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Unit Labor Costs (LRAC55FEO1Q156S), retrieved from FRED.