Index 2010=1, Trend, Quarterly, Not Seasonally Adjusted
ULQBBU04CAQ662N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.02
Year-over-Year Change
4.02%
Date Range
1/1/1970 - 7/1/2011
Summary
This index measures changes in unit labor costs over time, which reflects the relationship between productivity and compensation. 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
The Unit Labor Cost Index tracks the total labor costs required to produce one unit of output. It is a useful metric for assessing a country's international competitiveness and understanding inflationary trends in the broader economy.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of productivity and employee compensation.
Historical Context
Policymakers and economists closely monitor unit labor costs to gauge pressures on consumer prices and the overall health of the labor market.
Key Facts
- The index is set to a base year of 2010 = 1.
- Unit labor costs have increased by 18.6% since 2010.
- Declining unit labor costs can signal rising productivity or restrained wage growth.
FAQs
Q: What does this economic trend measure?
A: The Unit Labor Cost Index tracks changes in the total cost of labor required to produce one unit of output, reflecting the relationship between productivity and employee compensation.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a key indicator of inflationary pressures and labor market dynamics, providing insights into a country's international competitiveness and the overall health of the economy.
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 productivity and employee compensation.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor unit labor costs to gauge pressures on consumer prices and the overall health of the labor market, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Federal Reserve, with a typical delay of several weeks.
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Citation
U.S. Federal Reserve, Index 2010=1, Trend, Quarterly, Not Seasonally Adjusted (ULQBBU04CAQ662N), retrieved from FRED.