Quarterly
ULQBBC05CZQ189N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
129,215,795,651.00
Year-over-Year Change
4.90%
Date Range
1/1/1998 - 4/1/2011
Summary
The Quarterly Nonfarm Business Sector: Unit Labor Costs (ULQBBC05CZQ189N) measures the change in labor costs per unit of output produced in the U.S. nonfarm business sector, a key indicator of 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 reflect the average cost of labor per unit of output and are an important metric for economists and policymakers to gauge productivity, inflation, and the overall health of the labor market.
Methodology
This index is calculated by the U.S. Bureau of Labor Statistics using data on employee compensation and output from the nonfarm business sector.
Historical Context
Trends in unit labor costs are closely monitored by the Federal Reserve and other institutions to inform monetary policy decisions.
Key Facts
- Unit labor costs rose 5.5% in Q3 2022 compared to the previous quarter.
- Unit labor costs are a key input for the Federal Reserve's inflation forecasting.
- Rising unit labor costs can signal increased inflationary pressures in the economy.
FAQs
Q: What does this economic trend measure?
A: The Quarterly Nonfarm Business Sector: Unit Labor Costs (ULQBBC05CZQ189N) measures the change in labor costs per unit of output produced in the U.S. nonfarm business sector.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are an important indicator of productivity, inflation, and the overall health of the labor market, making this trend highly relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: This index is calculated by the U.S. Bureau of Labor Statistics using data on employee compensation and output from the nonfarm business sector.
Q: How is this trend used in economic policy?
A: Trends in unit labor costs are closely monitored by the Federal Reserve and other institutions to inform monetary policy decisions and assess inflationary pressures in the economy.
Q: Are there update delays or limitations?
A: The Quarterly Nonfarm Business Sector: Unit Labor Costs data is published by the Bureau of Labor Statistics with a lag of approximately one quarter.
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Citation
U.S. Federal Reserve, Quarterly Nonfarm Business Sector: Unit Labor Costs (ULQBBC05CZQ189N), retrieved from FRED.