Unit Labor Costs Chart
This chart shows the year-over-year change in Unit Labor Costs, in the Non-farm, Business, and Manufacturing sectors, in relation to the S&P 500. Unit Labor Costs highlight inflationary wage pressures at the employer level, per unit of output. Higher Labor Costs can lead to lower corporate profits, which can be bearish to manufacturing stocks. This can be a leading indicator or coincident indicator.
( HINT: Click-and-drag left-to-right on the top chart (S&P 500) to zoom in to a specific date range. Double-click on S&P 500 chart to zoom back out. )