Nominal unit labour cost based on persons

National accounts

Unit labour cost is an indicator that is often used to assess the (price) competitiveness of a country's economy and can be expressed as the share of average cost of labour per unit of output produced. Nominal unit labour cost (based on persons) is defined as a ratio of average labour costs per one employee to the real labour productivity per person employed. Labour costs represent the total compensation of employees and include not only the employee's gross wages, but also mandatory and voluntary employers´ social contributions, refund of income at temporary working disability and other social costs.

Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union (ESA 2010)

percentage change (%)

Compensation of employees