Nominal unit labour cost - 3 years % change

Name: Nominal unit labour cost - 3 years % change
Creator: Eurostat
Published: 2015-10-16 11:36:06.906556
License: https://creativecommons.org/licenses/by/4.0

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The unit labour cost (ULC) is defined as the ratio of labour costs to labour productivity. Nominal ULC (NULC) = (D1/EEM) / (B1GQ/ETO) with D1 = Compensation of employees, all industries, current prices EEM = Employees, all industries, in persons (domestic concept) B1GQ = Gross domestic product at market prices in millions, chain-linked volumes reference year 2015 ETO = Total employment, all industries, in persons (domestic concept) The input data are obtained through official transmissions of national accounts' country data in the ESA 2010 transmission programme. The scoreboard indicator is the percentage change over three years of nominal unit labour cost (NULC). The indicative threshold is 9% for the euro area countries and 12% for the non-euro area countries. The scoreboard indicator is calculated using the formula: [(ULCt-ULCt-3)/ULCt-3]*100.