Labor Costs A Measure Of Price Competitiveness

Comparative Labor Costs: Gauging Competitiveness in the Global Economy

Labor Costs: A Measure of Price Competitiveness

Unit labor costs (ULCs) serve as a broad indicator of a nation's price competitiveness in the international market. The International Labour Organization (ILO) collects data on labor costs, providing insights into the average employer expenditure per unit of production.

International Unit Labor Cost Comparisons

The OECD has recently updated its reference year for ULC data from 2010 to 2015, enabling comparisons of labor costs across countries over time. ULCs provide valuable information for understanding the relative competitiveness of different economies.