| Economic Event | Unit labor costs |
| Units | Percentage Change from Previous Period |
| Current Period | Q1 2011 |
| Release Date | May. 05. 11 |
| Reported | 1 |
| Consensus for Current Period | 0.8 |
| Number of Forecasts | 36 |
| Economic Surprise | 0.2 ( 25.00 % ) |
| Prior Period | Q4 2010 |
| Reported Value for Prior Period | -1 |
| Revised From | -0.6 |
| Next Release Date | Jun. 02. 11 |
| Next Release Time | 8.30 AM Eastern Time |
| Source | http://stats.bls.gov/news.release/pdf/prod2.pdf |
| Note | |
| Description | It's a wage inflation indicator that compares compensation to output. Is widely followed because of its impact on inflation. Generally, all costs associated with labor account for two0thirds of the price of finished goods and services (note: this does vary from industry to industry). The unit labor costs index is one of several key indicators monitored by the Federal Reserve as it sets monetary policy. The report is produced quarterly by the Bureau of Labor Statistics. |