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CHART 3.6
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Average annual growth rates for manufacturing unit labor costs in U.S. dollars, 1996-2006
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- Unit labor costs (ULC) are a component of total production costs and product prices. Declines in ULC indicate that an economy is becoming more cost-competitive.
- ULC declined over the period in almost half of the economies, including the United States.
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SOURCE: Bureau of Labor Statistics.
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