Manufacturing unit labor costs up in 2007
February 08, 2008
Unit labor costs in manufacturing increased 1.6 percent in 2007, a reversal from the 1.5-percent decline in 2006.
The last time that manufacturing unit labor costs experienced an annual increase was in 2003.
In the durable goods manufacturing sector unit labor costs edged up 0.6 percent in 2007 following a 2.9-percent decline in 2006. Unit labor costs in nondurable goods industries rose 3.0 percent in 2007 after declining 0.5 percent in 2006.
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.
These data are from the BLS Productivity and Costs program. Data are subject to revision. For more information, see the "Productivity and Costs, Preliminary Fourth Quarter and Annual Averages for 2007" (PDF) (HTML), news release USDL 08-0171.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Manufacturing unit labor costs up in 2007 on the Internet at http://www.bls.gov/opub/ted/2008/feb/wk1/art05.htm (visited February 09, 2016).
Recent editions of Spotlight on Statistics
Employment and Wages in Healthcare Occupations
Healthcare occupations are a significant percentage of U.S. employment. Some of the largest and highest paying occupations are in healthcare. This Spotlight examines employment and wages for healthcare occupations.
Fifty years of looking at changes in peoples lives
Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.
- A look at pay at the top, the bottom, and in between
The Spotlight examines how earnings and wages have changed over time and how they differ within a geographic area, industry, or occupation.