Unit labor costs in the third quarter
December 08, 1999
Unit labor costs in nonfarm business fell at a seasonally adjusted annual rate of 0.2 percent in the third quarter of 1999. In the previous quarter, unit labor costs rose at an annual rate of 4.2 percent.
In manufacturing, unit labor costs rose 2.3 percent in the third quarter of 1999. Unit labor costs in manufacturing increased by 0.3 percent in the second quarter. Note that, although the change in unit labor costs in manufacturing was greater than in nonfarm business in the third quarter, in 9 of the 10 previous quarters the reverse was true.
Unit labor costs—the cost of the labor input required to produce one unit of output—are computed by dividing labor costs in nominal terms by real output. Labor costs account for approximately 63 percent of all nonfarm business expenses.
These data are a product of the BLS Quarterly Labor Productivityprogram. Data are subject to revision. Additional information is available in "Productivity and Costs, Third Quarter, 1999," news release USDL 99-347. Unit labor costs also can be expressed as the ratio of hourly compensation to labor productivity.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Unit labor costs in the third quarter on the Internet at http://www.bls.gov/opub/ted/1999/dec/wk1/art03.htm (visited October 22, 2016).
Recent editions of Spotlight on Statistics
Workplace injuries and illnesses and employer costs for workers’ compensation
Workplace injury and illness data and the costs to employers for workers’ compensation in natural resources, construction, and maintenance occupations.
A look at the future of the U.S. labor force to 2060
Projected long-term trends in the growth, size, and composition of the labor force.
Union membership in the United States
Historical trends in union membership among employed wage and salary workers; union membership by a variety of demographic characteristics.
A look at healthcare spending, employment, pay, benefits, and prices
Spending on healthcare, current and projected employment in the industry, employer-provided healthcare benefits, healthcare prices, and pay for workers in healthcare occupations.
Self-employment in the United States
Trends in self-employment by various demographic and socioeconomic characteristics, including both the unincorporated and the incorporated self-employed, as well as data on paid employees who work for the self-employed.