Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Labor Compensation per Unit of Labor Input: Total for Australia
Index 2015=100, Not Seasonally Adjusted
ULQECU01AUQ661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
128.84
Year-over-Year Change
13.18%
Date Range
7/1/1966 - 7/1/2023
Summary
The Index 2015=100, Not Seasonally Adjusted metric measures changes in unit labor costs over time, providing insights into labor productivity 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
This index tracks changes in the total cost of labor required to produce one unit of output. It is a key indicator used by economists and policymakers to assess labor market dynamics and their impact on the broader economy.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of output, total labor compensation, and total hours worked.
Historical Context
The unit labor cost index is closely monitored by the Federal Reserve and other institutions to inform monetary policy decisions.
Key Facts
- The index is benchmarked to 100 in 2015.
- Rising unit labor costs can signal increased inflationary pressures.
- The index helps track changes in labor's share of total production costs.
FAQs
Q: What does this economic trend measure?
A: The Index 2015=100, Not Seasonally Adjusted measures changes in unit labor costs, which represent the total cost of labor required to produce one unit of output.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor productivity and inflationary pressures, making it a key indicator used by economists and policymakers to assess the state of the labor market and broader 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 output, total labor compensation, and total hours worked.
Q: How is this trend used in economic policy?
A: The unit labor cost index is closely monitored by the Federal Reserve and other institutions to inform monetary policy decisions aimed at maintaining price stability and supporting maximum employment.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with some potential for delays in the release of the latest figures.
Related Trends
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Housing Excluding Imputed Rentals for Housing for Australia
AUSCPGRHO02IXOBQ
Bank Non-Performing Loans to Gross Loans for Australia
DDSI02AUA156NWDB
International Merchandise Trade Statistics: Exports: Commodities for Australia
XTEXVA01AUM659S
Infra-Annual Labor Statistics: Employment Rate Female: From 25 to 54 Years for Australia
LREM25FEAUM156S
Real Residential Property Prices for Australia
QAUR628BIS
Amount Outstanding of International Debt Securities for Issuers in General Government Sector, All Maturities, Residence of Issuer in Australia
IDSGAMRIAOAU
Citation
U.S. Federal Reserve, Index 2015=100, Not Seasonally Adjusted (ULQECU01AUQ661N), retrieved from FRED.