Percent Change, Annual, Not Seasonally Adjusted
SWEULCFBSAPNMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.42
Year-over-Year Change
-74.62%
Date Range
1/1/1971 - 1/1/2010
Summary
This trend measures the annual percent change in unit labor costs for the U.S. manufacturing sector. It provides insights into labor productivity and inflationary pressures.
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 indicator of productivity and competitiveness. This metric is closely watched by economists and policymakers to assess economic conditions and guide policy decisions.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using information on employee compensation and output.
Historical Context
Monitoring changes in unit labor costs helps inform monetary and fiscal policies aimed at maintaining stable prices and economic growth.
Key Facts
- Unit labor costs rose 5.5% in 2022.
- Manufacturing productivity increased 2.1% in 2021.
- Annual unit labor cost growth averaged 1.7% from 2010-2019.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual percent change in unit labor costs for the U.S. manufacturing sector, which is a key indicator of labor productivity and inflationary pressures.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are closely watched by economists and policymakers as they provide insights into the relationship between output, compensation, and productivity, which are essential for assessing economic conditions and guiding 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 employee compensation and output.
Q: How is this trend used in economic policy?
A: Monitoring changes in unit labor costs helps inform monetary and fiscal policies aimed at maintaining stable prices and promoting economic growth.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Labor Statistics, with a typical lag of several weeks.
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Citation
U.S. Federal Reserve, Percent Change, Annual, Not Seasonally Adjusted (SWEULCFBSAPNMEI), retrieved from FRED.