Unit labor costs in second quarter
August 09, 2001
Unit labor costs in the nonfarm business sector increased at an annual rate of 2.1 percent (seasonally adjusted) in the second quarter of 2001, after rising 5.0 percent one quarter earlier.
The 2.1-percent rise in unit labor costs in the second quarter was the result of a 4.7-percent increase in hourly compensation and a 2.5-percent increase in labor productivity.
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 a product of the BLS Quarterly Labor Productivityprogram. Data are subject to revision. Additional information is available in "Productivity and Costs, Second Quarter 2001 (preliminary)," news release USDL 01-248.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Unit labor costs in second quarter on the Internet at https://www.bls.gov/opub/ted/2001/aug/wk1/art04.htm (visited July 21, 2017).
Recent editions of Spotlight on Statistics
Employer-sponsored healthcare coverage across wage groups
A look at the relationship between employee wages and access to, participation in, and costs of employer-sponsored medical, dental, and vision care benefit plans.
Sports and Exercise
A look at participation and time spent in sports and exercise activities.
Women at Work
A look at women's labor force participation and earnings, how women spend their time and money, the nature of fatal work injuries, and labor force projections for the future.
STEM occupations: past, present, and future
A look at employment and wages in science, technology, engineering, and mathematics occupations.