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OECD Compendium of Productivity Indicators 2012

image of OECD Compendium of Productivity Indicators 2012

This document presents an overview of recent trends in productivity level and growth in OECD countries, based on a large set of indicators. It also highlights the measurement issues involved in compiling indicators used for the analysis of issues related to productivity.

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Annex E: OECD estimates of unit labour cost

Unit labour costs (ULC) measure the average cost of labour per unit of output produced. They are calculated as the ratio of total labour costs to real output. Equivalently, they may be expressed as the ratio of total labour costs per hour worked to output per hour worked, i.e., labour productivity. In line with this definition, the OECD publishes on a continuous basis annual (and quarterly) data on unit labour costs and its components.

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