Description:

The Productivity and Unit Labor Costs measure the productivity of workers and the costs associated with producing a unit of output.

Released:

The preliminary report is released on the 7th of the second month of the quarter (data for prior quarter), at 8:30 ET. A revised report is then released in the third month of the quarter to provide a more accurate account of the data.

Calculation:

The Bureau of Labor Statistics measures information from the Current Employment Statistics program (CES), the National Compensation Survey (NCS) and the Current Population Survey (CPS) to derive their information on current labor hours, which in turn are used to measure productivity and costs figures.

Key Point:

If productivity is falling it indicates that labor costs may be rising faster than hourly earnings. Therefore the Fed keeps a close eye on this indicator for inflationary purposes.

Release site: Click here