Nonfarm Business Sector: Unit Labor Costs for All Workers
Nonfarm Business Sector: Unit Labor Costs for All Workers is labour cost per unit of output, reported as Index 2017=100.
123.98
Index 2017=100
Nonfarm Business Sector: Unit Labor Costs for All Workers — latest reading: 123.98. As of April 2026, it is up 5.8% over the past 12 months, well above its 10-year average. Source: ULCNFB, US Bureau of Labor Statistics, published quarterly. Reported as published, without transformation; the publisher may revise it. Higher than every one of the other 317 readings since 1947-01-01.
Min
14.98
Max
123.98
Average
60.05
10Y Percentile
100%
3M Change
+1.1%
Nonfarm Business Sector: Unit Labor Costs for All Workers (ULCNFB) — 318 observations from 1947-01-01 to 2026-04-01. Source: FRED, Federal Reserve Bank of St. Louis. Red shading indicates NBER recession periods.
Compare Nonfarm Business Sector: Unit Labor Costs for All Workers with other indicators →
How these numbers changed
Every figure above is the current one. These are the same periods as first published — what Nonfarm Business Sector: Unit Labor Costs for All Workers said on the day, before it was restated. Measured in Index 2017=100.
| Period | First print | Now | Change | Republished |
|---|---|---|---|---|
| Apr 2026 | 124.022 | 123.979 | -0.043 | 1× |
| Jan 2026 | 124.666 | 123.62 | -1.046 | 2× |
| Oct 2025 | 122.553 | 123.216 | +0.663 | 3× |
| Jul 2025 | 121.637 | 122.57 | +0.933 | 4× |
| Apr 2025 | 123.623 | 122.27 | -1.353 | 4× |
| Jan 2025 | 122.236 | 123.17 | +0.934 | 5× |
| Oct 2024 | 121.402 | 121.032 | -0.37 | 6× |
| Jul 2024 | 121.983 | 120.171 | -1.812 | 7× |
| Apr 2024 | 120.394 | 119.844 | -0.55 | 8× |
| Jan 2024 | 121.228 | 119.531 | -1.697 | 7× |
| Oct 2023 | 119.564 | 117.93 | -1.634 | 8× |
| Jul 2023 | 119.686 | 117.571 | -2.115 | 10× |
Nonfarm Business Sector: Unit Labor Costs for All Workers for April 2026 first printed at 124.022 on August 6, 2026, was revised once, and now reads down to 123.979. Recompute any row from FRED's own vintage archive.
Macro Regime Context
The growth regime is currently late cycle (71% confidence).
See what this means across all four regime dimensions →3-Month
+1.1%
6-Month
+2.4%
12-Month
+5.8%
What this means
Nonfarm Business Sector: Unit Labor Costs for All Workers is currently at 123.98 , which is well above its 10-year historical average. The trend is increasing (+1.1% over the past 3 months).
Over the past 6 months the change is +2.4%, and over 12 months it is +5.8%. The short-term pace is consistent with the longer trend.
Cite this page
MacroRadar, "Nonfarm Business Sector: Unit Labor Costs for All Workers," https://www.macroradar.io/nonfarm-business-sector-unit-labor-costs-for-all-workers (as of April 2026).