Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Labor Productivity: Total
Growth rate same period previous year
OECDULQELP01GYSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.34
Year-over-Year Change
-62.41%
Date Range
1/1/1996 - 1/1/2023
Summary
The 'Growth rate same period previous year' trend measures the annual percentage change in an economic indicator compared to the same period a year earlier. This provides important insights into the pace and direction of economic growth.
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
This trend shows the year-over-year growth rate, which is a key metric used by economists and policymakers to understand the dynamics of economic recovery, inflation, and overall business cycle conditions.
Methodology
The data is calculated based on the percentage change between the current period and the same period in the previous year.
Historical Context
Analysts monitor this trend to assess the broader economic climate and its implications for monetary and fiscal policy decisions.
Key Facts
- The trend is published by the OECD.
- It can be applied to various economic measures like GDP, employment, and consumer prices.
- Year-over-year growth rates provide a clearer picture of underlying trends than month-over-month changes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual percentage change in an economic indicator compared to the same period a year earlier. It provides insights into the pace and direction of economic growth.
Q: Why is this trend relevant for users or analysts?
A: Year-over-year growth rates are a key metric used by economists and policymakers to assess economic recovery, inflation, and broader business cycle conditions.
Q: How is this data collected or calculated?
A: The data is calculated based on the percentage change between the current period and the same period in the previous year.
Q: How is this trend used in economic policy?
A: Analysts monitor this trend to evaluate the economic climate and its implications for monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published by the OECD on a regular basis with minimal delays, providing timely insights into economic performance.
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Citation
U.S. Federal Reserve, Growth rate same period previous year (OECDULQELP01GYSAQ), retrieved from FRED.