Because components of the index are published in other releases, the information in the release is frequently anticipated and thus does not influence the markets to a great extent. What to look for Nonfarm and manufacturing productivity growth. Unit labor cost change. Change in hourly compensation. Change in unit non-labor costs.
Strengths Provides good information on emerging wage pressures in the unit labor cost component.
Release provides best overall picture of the economy's efficiency. Because the data are released on a quarterly basis, it is not as timely as monthly indicators of economic activity. Although these measures relate output to hours and capital services, they do not measure the contributions of labor, capital or any other specific factor of production. Rather, they reflect the joint effect of many influences, including changes in technology, shifts in labor force composition, capital investment, level of output, and changes in the utilization of capacity. Not available regionally.