Index 2005=1, Trend, Annual, Not Seasonally Adjusted
ULQBBU08EUA662N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.12
Year-over-Year Change
27.54%
Date Range
1/1/1995 - 1/1/2010
Summary
This index measures the trend in unit labor costs for the U.S. business sector on an annual, not seasonally adjusted basis. It is a key indicator of labor market conditions and inflationary pressures.
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 Index of Unit Labor Costs represents the ratio of labor compensation per hour to labor productivity. It is used by economists and policymakers to assess changes in the cost of labor required to produce one unit of output.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of hourly compensation and productivity.
Historical Context
Trends in unit labor costs provide important insights into the relationship between wages, productivity, and inflation.
Key Facts
- The index has a base year of 2005 = 1.
- Unit labor costs account for around 60% of total business costs.
- Rising unit labor costs can signal potential inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: This index measures the trend in unit labor costs for the U.S. business sector on an annual, not seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: Trends in unit labor costs provide important insights into the relationship between wages, productivity, and inflation, which are crucial for economic analysis and policymaking.
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 hourly compensation and productivity.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess labor market conditions and inflationary pressures, which informs decisions on monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The data is reported on an annual basis, so there may be a delay in the most recent observations compared to other more frequently updated economic indicators.
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Citation
U.S. Federal Reserve, Index 2005=1, Trend, Annual, Not Seasonally Adjusted (ULQBBU08EUA662N), retrieved from FRED.