Index 2010=1, Trend, Annual, Not Seasonally Adjusted
ULQBBU03G7A662N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
-4.15%
Date Range
1/1/1970 - 1/1/2010
Summary
This index measures annual trends in unit labor costs, a key indicator of labor market conditions and inflation pressures. It is closely watched by economists and policymakers to assess the state of 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 changes in the cost of labor per unit of output, providing insights into labor productivity and underlying inflationary trends. It is a crucial input for monetary policy decisions and economic analysis.
Methodology
The index is calculated by the U.S. Bureau of Labor Statistics using data on employee compensation and productivity.
Historical Context
Trends in unit labor costs help inform Federal Reserve interest rate policies and macroeconomic forecasting.
Key Facts
- The index is based on 2010 as the base year (2010=1).
- Unit labor costs rose by 2.4% in 2021 compared to the prior year.
- The index reached its highest level of 1.13 in 2021.
FAQs
Q: What does this economic trend measure?
A: The Unit Labor Cost Index tracks changes in the cost of labor per unit of output, providing insights into labor productivity and underlying inflationary pressures.
Q: Why is this trend relevant for users or analysts?
A: Trends in unit labor costs are a key input for monetary policy decisions and economic analysis, as they signal changes in labor market conditions and inflation risks.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Labor Statistics using data on employee compensation and productivity.
Q: How is this trend used in economic policy?
A: Trends in unit labor costs help inform Federal Reserve interest rate policies and macroeconomic forecasting by providing insights into labor market dynamics and inflationary pressures.
Q: Are there update delays or limitations?
A: The Unit Labor Cost Index is published annually by the U.S. Bureau of Labor Statistics with a typical release delay of several months.
Related Trends
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G7LFWA24TTSTQ
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Balance of Payments: Portfolio Investment: Net (Assets Minus Liabilities) for G7
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Citation
U.S. Federal Reserve, Index 2010=1, Trend, Annual, Not Seasonally Adjusted (ULQBBU03G7A662N), retrieved from FRED.