Index 2005=1, Annual, Not Seasonally Adjusted
ULQBBU05TRA661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.03
Year-over-Year Change
8604.62%
Date Range
1/1/1987 - 1/1/2006
Summary
This trend measures unit labor costs in the U.S. business sector, a key economic indicator used to assess inflationary pressures and productivity.
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 represent the cost of labor input required to produce one unit of output. They are calculated as the ratio of total labor compensation to real output, and provide insight into the relationship between wages, productivity, and profitability.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using establishment surveys and productivity data.
Historical Context
Unit labor costs are closely monitored by policymakers, economists, and market analysts to gauge macroeconomic trends and inform decisions.
Key Facts
- Unit labor costs increased by 2.4% in 2022.
- The index is set to 1.0 in 2005 as the base year.
- Rising unit labor costs can signal a tightening labor market and potential inflationary risks.
FAQs
Q: What does this economic trend measure?
A: This trend measures unit labor costs in the U.S. business sector, which represent the cost of labor required to produce one unit of output.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs provide insight into the relationship between wages, productivity, and profitability, making them a key indicator for assessing inflationary pressures and macroeconomic conditions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using establishment surveys and productivity data.
Q: How is this trend used in economic policy?
A: Unit labor costs are closely monitored by policymakers, economists, and market analysts to gauge macroeconomic trends and inform decisions related to monetary policy, wage negotiations, and investment strategies.
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 2005=1, Annual, Not Seasonally Adjusted (ULQBBU05TRA661S), retrieved from FRED.