Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Labor Productivity: Total for Hungary
Growth rate previous period, Seasonally Adjusted
ULQELP01HUQ657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.74
Year-over-Year Change
-91.95%
Date Range
4/1/1995 - 7/1/2023
Summary
The 'Growth rate previous period, Seasonally Adjusted' trend measures the quarter-over-quarter growth rate of labor productivity, a key economic indicator of efficiency and competitiveness.
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 metric tracks the percentage change in labor productivity, which reflects how much economic output is produced per hour worked. It is a widely used indicator of an economy's efficiency and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using information on gross domestic product and hours worked.
Historical Context
Policymakers and analysts closely monitor labor productivity growth to assess the health and potential of the economy.
Key Facts
- Productivity growth is a key driver of long-term economic prosperity.
- The U.S. has experienced a slowdown in labor productivity growth since the early 2000s.
- Improving productivity is a major policy goal for many governments.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarter-over-quarter percent change in labor productivity, which reflects how much economic output is produced per hour worked.
Q: Why is this trend relevant for users or analysts?
A: Labor productivity growth is a key indicator of an economy's efficiency and competitiveness, and is closely watched by policymakers and economists to assess economic health and potential.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using information on gross domestic product and hours worked.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this productivity growth metric to evaluate the overall health and potential of the economy, and to inform decisions on economic policies and programs.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Labor Statistics, and there may be some delays in the most recent quarterly updates.
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Citation
U.S. Federal Reserve, Growth rate previous period, Seasonally Adjusted (ULQELP01HUQ657S), retrieved from FRED.