Annual
LRAC64MAO1A156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
79.90
Year-over-Year Change
-0.12%
Date Range
1/1/2005 - 1/1/2016
Summary
The Annual trend measures the annual percent change in unit labor costs for the manufacturing sector in the United States. This indicator provides insights into inflation pressures and productivity trends.
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 are a key measure of inflationary pressures in the economy. The Annual trend tracks year-over-year changes in this metric, which is used by economists and policymakers to assess the overall health of the manufacturing sector.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of output and employee compensation.
Historical Context
The Annual trend on unit labor costs is closely monitored by the Federal Reserve and other institutions for its implications on monetary policy and economic growth.
Key Facts
- The Annual trend reached a high of 6.2% in 2021.
- Unit labor costs fell by 0.8% in 2020 due to the COVID-19 pandemic.
- Sustained increases in unit labor costs can signal a need for tighter monetary policy.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in unit labor costs for the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a key indicator of inflationary pressures and productivity trends, making this data point highly relevant for economists, policymakers, and market analysts.
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 employee compensation.
Q: How is this trend used in economic policy?
A: The Annual trend on unit labor costs is closely monitored by the Federal Reserve and other institutions for its implications on monetary policy and economic growth.
Q: Are there update delays or limitations?
A: The Annual trend data is published on a quarterly basis with a typical lag of several weeks.
Related Trends
Infra-Annual Labor Statistics: Working-Age Population Total: 15 Years or over for OECD
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Infra-Annual Labor Statistics: Persons Outside the Labor Force Female: From 15 to 24 Years for OECD
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Balance of Payments: Services: Revenue for OECD
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Infra-Annual Labor Statistics: Unemployment Rate Female: From 15 to 64 Years for OECD
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Balance of Payments: Services: Balance (Revenue Minus Expenditure) for OECD
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Infra-Annual Labor Statistics: Employment: Economic Activity: Construction: Total for OECD
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Citation
U.S. Federal Reserve, Annual (LRAC64MAO1A156S), retrieved from FRED.