Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Labor Compensation per Unit of Labor Input: Total for Canada
ULQECU01CAQ659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.92
Year-over-Year Change
-57.68%
Date Range
1/1/1982 - 4/1/2023
Summary
The Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators measures the labor compensation per unit of labor input for the Canadian economy, providing a key gauge of 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
Unit labor costs represent the average cost of labor per unit of output, a critical metric for evaluating both productivity and price inflation. This early estimate is used by economists and policymakers to assess the broader economic landscape and potential for cost-push inflation.
Methodology
The data is collected and calculated by Statistics Canada based on surveys of labor compensation and output.
Historical Context
Unit labor costs are closely monitored by the Bank of Canada and other institutions to inform monetary policy decisions.
Key Facts
- Unit labor costs increased by 2.7% in Q4 2022 compared to the previous quarter.
- Rising unit labor costs can signal potential inflationary pressures in the economy.
- The early ULC estimate is published about 40 days after the end of each quarter.
FAQs
Q: What does this economic trend measure?
A: The Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators measures the labor compensation per unit of labor input for the Canadian economy.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs provide a key gauge of productivity and inflationary pressures, making this data highly relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Statistics Canada based on surveys of labor compensation and output.
Q: How is this trend used in economic policy?
A: Unit labor costs are closely monitored by the Bank of Canada and other institutions to inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The early ULC estimate is published about 40 days after the end of each quarter.
Related Trends
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Total for Canada
CPALTT01CAA659N
Nominal Private Sector, Changes in Inventories for Canada
NINVPSAXDCCAQ
Production: Construction: Total for Canada
PRCNTO01CAQ189S
Production: Manufacturing: Total Manufacturing for Canada
PRMNTO01CAA657S
Nominal Exports of Goods and Services for Canada
NXSAXDCCAQ
Bank Deposits to GDP for Canada
DDOI02CAA156NWDB
Citation
U.S. Federal Reserve, Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Labor Compensation per Unit of Labor Input: Total for Canada (ULQECU01CAQ659S), retrieved from FRED.