Annual
ULQBBC03FIA189N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,448,368,358.60
Year-over-Year Change
25.45%
Date Range
1/1/1975 - 1/1/2010
Summary
The Annual trend measures the percent change in unit labor costs in the business sector. It is a key indicator of inflationary pressures and labor market dynamics.
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, capturing both wage levels and productivity. Economists closely monitor this metric to understand the relationship between wages, prices, and profitability.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using established productivity and cost accounting methods.
Historical Context
Annual unit labor cost changes are closely watched by the Federal Reserve and other policymakers for insights on potential inflation risks.
Key Facts
- Unit labor costs rose 5.5% in 2022.
- Productivity growth slowed to 1.7% in 2022.
- Wages grew 7.2% over the past year.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in unit labor costs in the U.S. business sector.
Q: Why is this trend relevant for users or analysts?
A: Annual unit labor cost changes provide insights into labor market dynamics and inflationary pressures in the broader economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using established productivity and cost accounting methods.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other policymakers closely monitor unit labor cost changes to assess the risk of wage-driven inflation.
Q: Are there update delays or limitations?
A: The Annual unit labor cost data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Annual (ULQBBC03FIA189N), retrieved from FRED.