Index 2005=1, Trend, Annual, Not Seasonally Adjusted
ULQBBU02EUA662N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.09
Year-over-Year Change
11.42%
Date Range
1/1/1995 - 1/1/2010
Summary
This index measures the annual trend of unit labor costs in the United States, a key indicator of inflation and competitiveness.
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 changes in the cost of labor required to produce one unit of output. It is a widely-used metric for evaluating labor productivity and assessing inflationary pressures in the economy.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of output and compensation.
Historical Context
Economists and policymakers monitor unit labor costs to gauge the health of the labor market and inform monetary and fiscal policies.
Key Facts
- The index is published on a quarterly basis.
- Unit labor costs rose by 3.1% in 2022 compared to the prior year.
- High unit labor costs can signal a tight labor market and rising inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: The index measures changes in the cost of labor required to produce one unit of output in the United States.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a key indicator of labor productivity and inflationary pressures, making this metric important for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on measures of output and compensation.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor unit labor costs to gauge the health of the labor market and inform monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The index is published on a quarterly basis, with a potential delay of several weeks.
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Citation
U.S. Federal Reserve, Index 2005=1, Trend, Annual, Not Seasonally Adjusted (ULQBBU02EUA662N), retrieved from FRED.