Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Labor Compensation per Unit of Labor Input: Total for Canada
Index 2015=100
ULQECU01CAQ661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.85
Year-over-Year Change
7.73%
Date Range
1/1/1981 - 4/1/2023
Summary
The Index 2015=100 measures changes in unit labor costs, which reflect the cost of labor per unit of output. It is a key economic indicator used by policymakers to monitor inflation 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
The Index 2015=100 tracks the ratio of hourly compensation to labor productivity for the nonfarm business sector. It provides insight into inflationary pressures and the ability of businesses to pass along higher labor costs.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of hourly compensation and output per hour.
Historical Context
The Index 2015=100 is closely watched by the Federal Reserve and other economic analysts to assess the overall health of the U.S. economy.
Key Facts
- The index has a base year of 2015 = 100.
- Unit labor costs rose 2.4% in 2022 compared to the prior year.
- Higher unit labor costs can lead to increased consumer prices.
FAQs
Q: What does this economic trend measure?
A: The Index 2015=100 measures changes in unit labor costs, which reflect the cost of labor per unit of output produced in the nonfarm business sector.
Q: Why is this trend relevant for users or analysts?
A: The index provides important insights into inflationary pressures and the ability of businesses to pass along higher labor costs, making it a key indicator monitored by policymakers and economists.
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 output per hour.
Q: How is this trend used in economic policy?
A: The Index 2015=100 is closely watched by the Federal Reserve and other economic analysts to assess the overall health of the U.S. economy and inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The index data is published quarterly by the Bureau of Labor Statistics with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Index 2015=100 (ULQECU01CAQ661S), retrieved from FRED.