Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 64 Years for Ireland
Quarterly, Not Seasonally Adjusted
LRAC64TTIEQ156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
78.10
Year-over-Year Change
1.83%
Date Range
4/1/1999 - 1/1/2025
Summary
This economic trend measures the unit labor costs in the U.S. non-farm business sector on a quarterly basis without seasonal adjustments. It is a key indicator of inflationary pressures and productivity in the broader 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
The Quarterly, Not Seasonally Adjusted unit labor costs metric represents the total labor costs required to produce one unit of output in the non-farm business sector. It is a vital statistic for economists and policymakers assessing economic conditions and potential inflationary risks.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using information on hourly compensation and productivity.
Historical Context
This metric is closely monitored by the Federal Reserve and other institutions to help guide monetary policy decisions.
Key Facts
- Unit labor costs rose 2.4% in Q4 2022 compared to the prior quarter.
- Productivity declined 3.0% in Q4 2022, contributing to the increase in unit labor costs.
- Unit labor costs are a key input for the Federal Reserve's inflation forecasting models.
FAQs
Q: What does this economic trend measure?
A: This trend measures the unit labor costs in the U.S. non-farm business sector on a quarterly basis without seasonal adjustments. It represents the total labor costs required to produce one unit of output.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a vital economic indicator that helps assess inflationary pressures and productivity in the broader economy. This metric is closely monitored by the Federal Reserve and other institutions to guide policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using information on hourly compensation and productivity.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by the Federal Reserve and other institutions to help guide monetary policy decisions, as it provides insights into inflationary pressures and productivity trends in the non-farm business sector.
Q: Are there update delays or limitations?
A: The Quarterly, Not Seasonally Adjusted unit labor costs data is published by the Bureau of Labor Statistics with a delay of approximately one month following the end of each quarter.
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Citation
U.S. Federal Reserve, Quarterly, Not Seasonally Adjusted (LRAC64TTIEQ156N), retrieved from FRED.