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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United StatesUS Unit Labor Cost QoQ held to 4.2% in Q1 2014
FMPMonthlyReleased May 2014
US Unit Labor Cost QoQ held to 4.2% in Q1 2014, released May 2014. The print exceeded the 2.6% consensus by 1.6%. Unit Labor Cost QoQ is now the highest in 8 months.
Latest Release
4.2
Actual
2.6
Consensus
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.50 | INDEX | Moves with | → View |
| EUR/USD | ▼ Inverse | −0.45 | FOREX | Moves against | → View |
| USD/JPY | ▲ Direct | +0.40 | FOREX | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.35 | COMMODITIES | Moves against | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Unit Labor Cost QoQ (United States) was reported at 4.2% in May 2014. This beat the market consensus of 2.6% by 1.6%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with S&P 500 (Bullish Stocks). A secondary relationship exists with EUR/USD, negatively correlated (Bearish EUR).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Existing Home Sales MoM (Aug 11) and Existing Home Sales (Aug 11).
Auto-generated from current model state · Refreshes on each release · Last update May 2014.
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Unit Labor Cost QoQ - US
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About Unit Labor Cost QoQ — United States
DEFINITION
Unit Labor Cost QoQ is a financial indicator that measures the change in labor costs for businesses over a quarter. It provides valuable insights into the efficiency and productivity of a company's workforce, as well as their ability to manage labor expenses. This indicator is often used by investors and analysts to assess the overall health and profitability of a business. A higher Unit Labor Cost QoQ may indicate increased labor expenses and potentially lower profitability, while a lower Unit Labor Cost QoQ may suggest improved efficiency and higher profits.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2014): actual 4.2 %, consensus 2.6 %. Prior reading (Sep 2013): 0 %.
WHAT'S NEXT
This indicator correlates most strongly with S&P 500 (Bullish Stocks, r=0.50) — a useful reference for index-focused traders.
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Economic Calendar - US Events
| Friday, August 7, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 12:30 | US | Participation Rate | 61.4 | 61.5 | 61.6 | 61.50 | Medium |
| 12:30 | US | U-6 Unemployment Rate | 7.9 | 7.9 | 7.9 | 7.90 | Low |
| 12:30 | US | Non Farm Payrolls | -23 | 20 | 80 | 28.50 | High |
| 12:30 | US | Average Hourly Earnings YoY | 3.2 | 3.4 | 3.5 | 3.35 | Medium |
| 12:30 | US | Unemployment Rate | 4.1 | 4.2 | 4.2 | 4.15 | High |
| 12:30 | US | Average Weekly Hours | 34.3 | 34.3 | 34.3 | 34.30 | Low |
| 12:30 | US | Manufacturing Payrolls | 5 | 11 | 4 | 4.50 | Low |
| 12:30 | US | Government Payrolls | -53 | -10 | 10 | -21.50 | Low |
| 12:30 | US | Average Hourly Earnings MoM | 0.1 | 0.3 | 0.3 | 0.20 | Medium |
| 12:30 | US | Nonfarm Payrolls Private | 30 | 30 | 78 | 54.00 | Low |
| 15:00 | US | Consumer Inflation Expectation | 3.6 | 3.7 | 3.8 | 3.70 | Low |
| 17:00 | US | Baker Hughes Oil Rig Count | 454 | 451 | 452 | 453.00 | Low |
| 19:00 | US | Consumer Credit Change | 14.17 | -1.08 | 10.5 | 12.34 | Low |
| Tuesday, August 11, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 10:00 | US | NFIB Business Optimism Index | 97.4 | 97.8 | 97.70 | Low | |
| 14:00 | US | Existing Home Sales MoM | -2.4 | -0.7 | -1.65 | Medium | |
| 14:00 | US | Existing Home Sales | 4.09 | 4.07 | 4.05 | High | |
| Wednesday, August 12, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 12:30 | US | Core Inflation Rate MoM | 0 | 0.2 | 0.25 | High | |
| 12:30 | US | Inflation Rate MoM | -0.4 | 0.1 | 0.10 | High | |
| 12:30 | US | Inflation Rate YoY | 3.5 | 3.4 | 3.45 | High | |
| 12:30 | US | Core Inflation Rate YoY | 2.6 | 2.5 | 2.55 | High | |
| 12:30 | US | CPI | 333.95 | 334.03 | 334.39 | Medium | |
| 12:30 | US | CPI s.a | 332.568 | 332.6 | 332.85 | Medium | |
| 12:30 | US | Core CPI YoY | 2.6 | 2.5 | 2.50 | Medium | |
| 12:30 | US | CPI YoY | 3.5 | 3.4 | 3.45 | High | |
| 12:30 | US | CPI MoM | -0.4 | 0.1 | 0.10 | High | |
| 12:30 | US | Core CPI MoM | 0 | 0.2 | 0.20 | High | |
| 18:00 | US | Monthly Budget Statement | -120 | -294.6 | -297.10 | Medium | |