Infra-Annual Labor Statistics: Monthly Unemployment Rate Male: From 15 to 24 Years for Estonia
Annual, Seasonally Adjusted
LRHU24MAEEA156S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.98
Year-over-Year Change
-18.47%
Date Range
1/1/2000 - 1/1/2024
Summary
This economic indicator measures the annual, seasonally adjusted change in unit labor costs in the U.S. manufacturing sector. It is a key metric for analyzing 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 average cost of labor per unit of output. This metric is used by policymakers and analysts to assess trends in manufacturing productivity, gauge inflationary pressures, and understand the competitiveness of U.S. industries.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using employment, hours, and earnings data.
Historical Context
Tracking unit labor costs helps inform monetary and fiscal policy decisions that can impact business investment, consumer prices, and trade dynamics.
Key Facts
- Unit labor costs rose 3.5% in 2022.
- Manufacturing productivity declined 1.8% in 2022.
- U.S. manufacturing faces global competitiveness challenges.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the annual, seasonally adjusted change in unit labor costs in the U.S. manufacturing sector. It reflects the average cost of labor per unit of output.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a key metric for understanding manufacturing productivity, inflationary pressures, and the competitiveness of U.S. industries in global markets.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using employment, hours, and earnings information.
Q: How is this trend used in economic policy?
A: Tracking unit labor costs helps inform monetary and fiscal policy decisions that can impact business investment, consumer prices, and trade dynamics.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Annual, Seasonally Adjusted (LRHU24MAEEA156S), retrieved from FRED.