OECD Statistics Working Papers

ISSN :
1815-2031 (online)
DOI :
10.1787/18152031
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The OECD Statistics Working Paper Series - managed by the OECD Statistics Directorate – is designed to make available in a timely fashion and to a wider readership selected studies prepared by staff in the Secretariat or by outside consultants working on OECD projects. The papers included are of a technical, methodological or statistical policy nature and relate to statistical work relevant to the organisation. The Working Papers are generally available only in their original language - English or French - with a summary in the other.
 

The OECD System of Unit Labour Cost and Related Indicators You or your institution have access to this content

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Author(s):
Richard McKenzie, David Brackfield1
Author Affiliations
  • 1: OECD, France

Publication Date
21 Mar 2008
Bibliographic information
No:
2008/04
Pages
31
DOI
10.1787/243142116028

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This paper outlines in detail the methodology and statistical processes used for compiling the outputs of the OECD System of Unit Labour Cost and Related Indicators. This new System has been developed by the OECD in response to concerns from the international community of economic analysts on the limited availability of internationally comparable data concerning labour costs, particularly in activities outside of Manufacturing and on a sub-annual basis. The outputs of this System, which are updated at the end of each quarter, consist of long time series of annual and quarterly unit labour cost and related indicators compiled using a specific methodology to maximise comparability across countries. The related indicators include annual time series for: labour productivity; labour compensation per unit labour input (including PPP adjusted); exchange rate adjusted unit labour costs and; labour income share ratios. Data are available for all OECD Member countries and the Euro area for a wide range of economic activities including Total Economy, Manufacturing & Industry, Market Services and the Business Sector. The release of this new product represents the outcome of four years of development work by the OECD that has benefited from contributions by academia and national consultants, and involved extensive consultation with national statistics offices, national central banks, and the OECD Economics Department.