Unit labor costs in fourth quarter of 2006
March 09, 2007
Unit labor costs in nonfarm business increased at a revised annual rate of 6.6 percent (seasonally adjusted) in the fourth quarter of 2006, after rising 1.1 percent in the third quarter.
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.
Unit labor costs can also be expressed as the ratio of hourly compensation to labor productivity. The rise in unit labor costs in the fourth quarter reflected an 8.2-percent increase in hourly compensation and a 1.6-percent increase in labor productivity.
These data are a product of the BLS Productivity and Costs program. Data in this report are seasonally adjusted annual rates. These estimates are subject to further revision. Additional information is available in "Productivity and Costs, Fourth Quarter and Annual Averages, 2006 Revised" (PDF) (TXT), news release USDL 07-0338.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Unit labor costs in fourth quarter of 2006 on the Internet at http://www.bls.gov/opub/ted/2007/mar/wk1/art05.htm (visited August 29, 2015).
Recent editions of Spotlight on Statistics
New estimates of personal taxes in Consumer Expenditure Survey
In 2013, the Consumer Expenditure Survey improved its personal tax data.
Trends in long-term unemployment
Long-term unemployment reached historically high levels following the recession of 2007–2009.
Housing: before, during, and after the Great Recession
looks at consumer expenditures on household items, employment in residential construction, prices for household items, and injuries in occupations involved in building and maintaining our homes.