United StatesUS Unit Labor Costs QoQ held to 0.6% in Q2 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%.
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Forecasts generated by Sigmanomics engine. Not financial advice.
Median Absolute Error
across last 7 releases
Last Call
Aug 2014
Method: consensus + ½ × mean(surprise, trailing 90d).
| 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 Fed Schmid Speech (Nov 10) and Fed Bowman Speech (Nov 10).
Auto-generated from current model state · Refreshes on each release · Last update August 2014.
Unit Labor Costs QoQ - US
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, first reported): 5.7 %. Before that (Mar 2014, first reported): -0.1 %.
WHAT'S NEXT
Sigmacast's 1-month forecast is 1.27% (latest print 0.6%). The 3-month forecast is 2.6%. The projection is based on the indicator's own recent trend. 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
| Monday, November 9, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 15:00 | US | Wholesale Inventories MoM | 0.7 | 0.6 | 0.6 | 0.65 | Low |
| 15:00 | US | Wholesale Sales MoM | 2.8 | 2 | 1.1 | 1.95 | Low |
| 16:00 | US | Consumer Inflation Expectation | 3.9 | 3.9 | 3.8 | 3.85 | Low |
| 16:30 | US | 3-Month Bill Auction | 4.06 | 4.04 | 4.009 | 4.03 | Low |
| Tuesday, November 10, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 11:00 | US | NFIB Business Optimism Index | 97.8 | 97.9 | 97.7 | 98.30 | Low |
| 13:30 | US | CPI s.a | 337.48 | 336.3 | 337 | 337.17 | High |
| 13:30 | US | Inflation Rate MoM | 0.4 | 0.6 | 0.3 | 0.33 | High |
| 13:30 | US | Core Inflation Rate MoM | 0.3 | 0.3 | 0.2 | 0.23 | High |
| 13:30 | US | CPI | 337.51 | 336.94 | 337.02 | 337.13 | High |
| 13:55 | US | Redbook YoY | 10.1 | 10.4 | 9.3 | 9.70 | Low |
| 21:30 | US | API Crude Oil Stock Change | -5.267 | -1 | 3.79 | Medium | |
| Wednesday, November 11, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 19:00 | US | Budget Balance | -27 | -298 | -339.85 | Medium | |