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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United StatesUS Unit Labor Costs QoQ held to 0.6% in Q2 2014
FMPMonthlyReleased August 2014
US Unit Labor Costs QoQ held to 0.6% in Q2 2014, released August 2014. The reading missed the 1.4% consensus by 0.8%. The print is running well above the 12-month average of -0.03%.
Latest Release
0.6
Actual
1.4
Consensus
Previous
Median Absolute Error
±0.8 percentage points
across last 7 releases
Last Call
Aug 2014
Predicted: 1.75
Actual: 0.6
Error: +1.15
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.50 | INDEX | Bullish Stocks | → View |
| EUR/USD | ▼ Inverse | −0.45 | FOREX | Bearish EUR | → View |
| USD/JPY | ▲ Direct | +0.40 | FOREX | Bullish USD | → View |
| XAU/USD | ▼ Inverse | −0.35 | COMMODITIES | Bearish Gold | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Unit Labor Costs QoQ (United States) was reported at 0.6% in August 2014. This missed the market consensus of 1.4% by 0.8%.
WHY IT MATTERS
The trailing three releases averaged 2.07%, up from the prior three at -2.1%.
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). Over the last 7 releases, the Sigmacast model's median absolute error is 0.8%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include MBA 30-Year Mortgage Rate (Jun 17) and Retail Sales MoM (Jun 17).
Auto-generated from current model state · Refreshes on each release · Last update August 2014.
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Unit Labor Costs QoQ - US
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About Unit Labor Costs QoQ — United States
DEFINITION
Unit Labor Costs QoQ (Quarter-over-Quarter) is a financial indicator that measures the change in labor costs for businesses over a specific quarter. It takes into account both wages and productivity, providing insight into the efficiency and profitability of a company's labor force. This indicator is often used by investors and analysts to assess the overall health and competitiveness of a company's operations. A higher QoQ increase in unit labor costs may indicate potential inflationary pressures, while a decrease may suggest improved productivity and cost control.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2014): actual 0.6 %, consensus 1.4 %. Prior reading (Jan 2014): 5.7 %. Before that (Mar 2014): -0.1 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with S&P 500 (Bullish Stocks, r=0.50) — a useful reference for index-focused traders.