GDP components · United States
United States Unit Labour Costs QoQ Prel
The United States Unit Labour Costs QoQ Prel is one part of the national accounts of the United States: what households spend, what businesses invest, what they earn, or how productive workers are.
- Importance
- Medium
- Publié
- Quarterly
- Prochaine publication
- Devise
- USD · US dollar
- Banque centrale
- The Federal Reserve
Derniers chiffres
La dernière publication, pour Q3, est parue le 2026-11-05 et s’est établie à -0.7%. C’est en dessous du consensus de 0.6%. C’est moins que 1.9% la fois précédente (révisé).
A weaker figure than expected points to slowing activity: the US dollar tends to soften and markets price in lower rates.
Sur les 8 dernières publications, la valeur est allée de -1.9% à 5.7%, avec une moyenne de 1.8%. Elle a baissé trois publications d’affilée.
| Publié | Pour | Réel | Consensus | Précédent |
|---|---|---|---|---|
| 5 Nov 2026 | Q3 | -0.7% | 0.6% | 1.9% ® |
| 6 Aug 2026 | Q2 | 1.3% | 2.1% | 1.3% ® |
| 7 May 2026 | Q1 | 2.3% | 2.6% | 4.6% ® |
| 5 Mar 2026 | Q4 | 2.8% | 2% | -1.8% ® |
| 8 Jan 2026 | Q3 | -1.9% | 1% | -2.9% ® |
| 7 Aug 2025 | Q2 | 1.6% | 1.5% | 6.9% ® |
| 8 May 2025 | Q1 | 5.7% | 5.1% | 2% ® |
| 6 Feb 2025 | Q4 | 3% | 3.4% | 0.5% ® |
Pourquoi c’est important
GDP's headline hides its drivers. Household spending is usually the largest part of demand; investment is the most cyclical and tells you about firms' confidence; productivity and labour costs decide whether growth can continue without inflation.
Mode de calcul
the Bureau of Labor Statistics (prices and jobs), the Bureau of Economic Analysis (GDP, income and spending) and the Census Bureau (retail sales, housing, trade) estimates each component from surveys, tax and trade data, after inflation where noted ("real").
Ce que signifient les variations
- Strong spending with weak income growth cannot last: watch the savings rate.
- Productivity growth lets wages rise without pushing up prices; unit labour costs show the opposite.
Supérieur aux attentes : A stronger figure than expected points to a healthier economy: it usually supports the US dollar and local stocks, and can push bond yields up.
Inférieur aux attentes : A weaker figure than expected points to slowing activity: the US dollar tends to soften and markets price in lower rates.
Un bref historique
The components follow the expenditure approach to GDP set out by Keynesian economics in the 1930s and standardised in the System of National Accounts.
Questions
What is the United States Unit Labour Costs QoQ Prel?
The United States Unit Labour Costs QoQ Prel is one part of the national accounts of the United States: what households spend, what businesses invest, what they earn, or how productive workers are.
What was the latest United States Unit Labour Costs QoQ Prel?
-0.7% for Q3, published on 5 November 2026 (consensus 0.6%, previous 1.9%).
When is the next United States Unit Labour Costs QoQ Prel?
On Thursday 4 February 2027 at 13:30 UTC.
Contenu éducatif uniquement, pas un conseil en investissement. Les chiffres sont les résultats publiés tels qu’enregistrés par notre calendrier ; les réactions de marché décrites sont typiques, non garanties.