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Unit labour costs for OECD area rose by 0.3% in the first quarter of 2012

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21/06/2012 - Unit labour costs (ULCs) in the OECD area rose by 0.3 % in the first quarter of 2012, the same rate as in the previous quarter, according to early estimates. This reflects increased labour compensation per unit of labour input and unchanged labour productivity.

In the United States, ULCs increased by 0.1% (up from -0.2% in the previous quarter), reflecting falls in both labour compensation per unit of labour input (-0.4%) and labour productivity (-0.5%). In the euro area, ULCs rose by 0.5% (down from 0.7% in the fourth quarter), with increases in both labour compensation per unit of labour input (0.7%) and labour productivity (0.2%).

Early estimates of quarterly unit labour costs,
labour compensation per unit of labour input and labour productivity, selected areas
(2012Q1, percentage change on the previous quarter, seasonally adjusted, total economy)

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Source: OECD Early Estimates of Quarterly ULC Indicators – Total economy