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This indicator tracks the quarterly fluctuations in labor costs, providing a more immediate view of wage trends than the annual figure. It helps economists identify short-term shifts in the labor market that might be influenced by seasonal hiring or recent policy changes. It is particularly sensitive to minimum wage adjustments and collective bargaining agreements.
Derived from the same survey as the YoY data, comparing the current quarter's labor costs against the previous quarter. The data is seasonally adjusted to remove predictable periodic variations.
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