Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Unit Labor Costs: Total for Austria
Growth rate same period previous year, Seasonally Adjusted
ULQEUL01ATQ659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.41
Year-over-Year Change
-3036.94%
Date Range
1/1/1996 - 1/1/2025
Summary
This economic trend measures the year-over-year growth rate of total unit labor costs, which is a key indicator of inflationary pressures and labor 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
Total unit labor costs reflect the average cost of labor per unit of output and are calculated as the ratio of total labor compensation to real output. This metric is widely used by economists and policymakers to assess the relative strength of the labor market and cost-push inflation risks.
Methodology
The data is collected through surveys of businesses and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in unit labor costs are closely monitored by the Federal Reserve and other economic institutions to inform monetary policy decisions.
Key Facts
- Unit labor costs rose 4.5% in 2022 compared to 2021.
- Rising labor costs can contribute to higher consumer prices.
- Unit labor costs are a leading indicator of overall inflation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the year-over-year growth rate of total unit labor costs, which reflect the average cost of labor per unit of output.
Q: Why is this trend relevant for users or analysts?
A: Unit labor cost trends are closely watched by economists and policymakers as a key indicator of inflationary pressures and labor productivity in the economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in unit labor costs are monitored by the Federal Reserve and other institutions to inform monetary policy decisions aimed at maintaining price stability and full employment.
Q: Are there update delays or limitations?
A: The unit labor cost data is published quarterly with a lag of several weeks, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Seasonally Adjusted (ULQEUL01ATQ659S), retrieved from FRED.