Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Labor Productivity: Total for Switzerland
Growth rate same period previous year, Seasonally Adjusted
ULQELP01CHQ659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.75
Year-over-Year Change
528.30%
Date Range
1/1/1996 - 7/1/2023
Summary
This economic trend measures the year-over-year growth rate of labor productivity, adjusted for seasonal variations. It is a key indicator of efficiency and competitiveness in the U.S. economy.
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 growth rate of labor productivity is a fundamental measure of how efficiently a country's workforce is producing economic output. This seasonally adjusted figure compares current productivity to the same period in the previous year, providing insights into long-term trends and the economy's capacity for sustained growth.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using established productivity measurement techniques.
Historical Context
Policymakers and economists closely monitor this metric to gauge the overall health and competitiveness of the U.S. economy.
Key Facts
- Labor productivity grew 1.8% in Q3 2022 compared to Q3 2021.
- Productivity growth averaged 1.5% annually from 2010-2019.
- Declining productivity can signal economic challenges for a country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the year-over-year growth rate of labor productivity in the U.S. economy, adjusted for seasonal variations.
Q: Why is this trend relevant for users or analysts?
A: Labor productivity growth is a key indicator of economic efficiency and competitiveness, which is crucial for long-term economic expansion and rising living standards.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using established productivity measurement techniques.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this metric to gauge the overall health and competitiveness of the U.S. economy, informing decisions around economic and labor market policies.
Q: Are there update delays or limitations?
A: The data is typically released quarterly with a lag of several weeks, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Seasonally Adjusted (ULQELP01CHQ659S), retrieved from FRED.