Index 2010=1, Trend, Annual, Not Seasonally Adjusted
ULQBBU02ESA662N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
26.01%
Date Range
1/1/1980 - 1/1/2010
Summary
This economic index measures the trend in unit labor costs for the U.S. private business sector on an annual, not seasonally adjusted basis. It is a key indicator of inflationary pressures in the economy.
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
The unit labor cost index tracks the cost of labor required to produce one unit of output. It is calculated as the ratio of hourly compensation to labor productivity, making it a crucial gauge of how wages and productivity are evolving over time.
Methodology
The data is collected through surveys of businesses and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this index to assess the potential for future inflation based on labor market dynamics.
Key Facts
- The index is based on 2010 as the base year of 1.0.
- Unit labor costs rose by 1.9% in 2021 compared to the prior year.
- Tracking unit labor costs helps identify turning points in the business cycle.
FAQs
Q: What does this economic trend measure?
A: This index measures the trend in unit labor costs for the U.S. private business sector on an annual, not seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a key indicator of inflationary pressures, as they track the relationship between wages and productivity. This is crucial information for policymakers and market participants.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the potential for future inflation based on labor market dynamics, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a short delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Index 2010=1, Trend, Annual, Not Seasonally Adjusted (ULQBBU02ESA662N), retrieved from FRED.