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 https://www.bls.gov/opub/ted/2007/mar/wk1/art05.htm (visited January 16, 2017).
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.