Index 2010=1, Quarterly, Seasonally Adjusted
ULQBBU06ATQ661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.02
Year-over-Year Change
4.75%
Date Range
1/1/1988 - 1/1/2011
Summary
This index measures unit labor costs in the U.S. non-farm business sector, a key indicator of inflationary pressures in the economy. It is closely watched by policymakers and analysts for insights into productivity, wage trends, and the overall state of the labor market.
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, reflecting both wages and productivity. It is a crucial metric for assessing labor market dynamics and their potential impact on consumer prices and monetary policy.
Methodology
The index is calculated by the U.S. Bureau of Labor Statistics based on data from the Current Employment Statistics and Productivity and Costs surveys.
Historical Context
Unit labor cost data is used by the Federal Reserve and other institutions to inform economic forecasting and policy decisions.
Key Facts
- The index has a base year of 2010 = 1.
- Unit labor costs rose 2.4% in Q4 2022 compared to the prior quarter.
- The index reached an all-time high of 1.258 in Q4 2022.
FAQs
Q: What does this economic trend measure?
A: The Unit Labor Cost index measures changes in the cost of labor per unit of output in the U.S. non-farm business sector.
Q: Why is this trend relevant for users or analysts?
A: Unit labor cost data provides important insights into labor market dynamics, productivity, and inflationary pressures, making it a key metric for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Labor Statistics based on data from the Current Employment Statistics and Productivity and Costs surveys.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other institutions use unit labor cost data to inform economic forecasting and policy decisions, particularly around monetary policy and inflation targeting.
Q: Are there update delays or limitations?
A: The unit labor cost data is published quarterly with a lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Index 2010=1, Quarterly, Seasonally Adjusted (ULQBBU06ATQ661S), retrieved from FRED.