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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 | 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 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 Import Prices MoM (Oct 16) and Export Prices MoM (Oct 16).
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.
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Economic Calendar - US Events
| Wednesday, October 14, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 12:30 | US | Inflation Rate YoY | 3.7 | 3.4 | 3.6 | 3.65 | High |
| 12:30 | US | Core Inflation Rate YoY | 2.6 | 2.4 | 2.5 | 2.55 | High |
| 12:30 | US | CPI s.a | 336.3 | 334.13 | 335.8 | 336.05 | High |
| 12:30 | US | Core Inflation Rate MoM | 0.3 | 0.3 | 0.2 | 0.25 | High |
| 12:30 | US | Inflation Rate MoM | 0.6 | 0.4 | 0.6 | 0.60 | High |
| 12:30 | US | Inflation Rate | 336.94 | 334.98 | 336.65 | 336.79 | High |
| 20:30 | US | API Crude Oil Stock Change | -11.1 | -2.09 | 1.9 | -4.60 | Medium |
| 21:00 | US | API Crude Oil Stock Change | -11.1 | -2.09 | 1.9 | -4.60 | Medium |
| Thursday, October 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 12:30 | US | Producer Price Index YoY | 6.3 | 5.6 | 5.3 | 5.80 | Low |
| 12:30 | US | Philadelphia Fed Manufacturing Index | 20.9 | 37.8 | 28.4 | 33.63 | Medium |
| 12:30 | US | NY Empire State Manufacturing Index | 25.5 | 7.6 | 10.3 | 17.90 | High |
| 12:30 | US | Core PPI YoY | 5 | 4.8 | 4.4 | 4.70 | Low |
| 12:30 | US | Continuing Jobless Claims | 1710 | 1714 | 1710 | 1706.25 | High |
| 12:30 | US | PPI Ex Food, Energy and Trade YoY | 5 | 4.8 | 4.7 | 4.85 | Low |
| 12:30 | US | Producer Price Index MoM | 1.3 | 0.5 | 0.5 | 0.90 | High |
| 12:30 | US | PPI Ex Food, Energy and Trade MoM | 0.5 | 0.3 | 0.3 | 0.40 | Low |
| 12:30 | US | Initial Jobless Claims | 199 | 198 | 200 | 197.50 | High |
| 12:30 | US | Producer Price Index | 159.78 | 157.411 | 159.1 | 159.44 | Low |
| 12:30 | US | Jobless Claims 4-Week Average | 198.5 | 198.25 | 199 | 198.44 | High |
| 12:30 | US | Core PPI MoM | 0.7 | 0.2 | 0.3 | 0.50 | Medium |
| 12:30 | US | Retail Sales MoM | 0.1 | 1.2 | 0.3 | 0.25 | High |
| 12:30 | US | Retail Sales Ex Autos MoM | 0.9 | 1.4 | 0.5 | 0.57 | High |
| 12:30 | US | Retail Sales Ex Gas/Autos MoM | 0.2 | 1.1 | 0.2 | 0.23 | High |
| 12:30 | US | Retail Sales YoY | 6.3 | 5.6 | 5.2 | 5.47 | High |
| 14:00 | US | Business Inventories MoM | 0.4 | 0.9 | 0.4 | 0.40 | Medium |
| 14:00 | US | Retail Inventories Ex Autos MoM | 0 | 0.8 | 0.1 | 0.05 | Low |
| 14:30 | US | EIA Natural Gas Stocks Change | 67 | 85 | 76 | 73.25 | Low |
| 15:00 | US | Atlanta Fed GDPNow | 3.6 | 3.6 | 3.6 | 3.70 | Medium |
| 16:00 | US | EIA Gasoline Stocks Change | 3.518 | 0.382 | -0.5 | 1.51 | Medium |
| 16:00 | US | EIA Crude Oil Stocks Change | -8.557 | -3.186 | -0.3 | -4.43 | Medium |
| 16:00 | US | EIA Distillate Stocks Change | -2.527 | -0.042 | -1.6 | -2.06 | Low |