CHART 3.6 |
Average annual growth rates in manufacturing unit labor costs, 1994-2004
in U.S. dollars
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- Unit labor costs (ULC) are a component of total production costs and product prices. Declines in ULC indicate that
a country is becoming more cost-competitive.
- ULC declined in the U.S. and three Asian economies while increasing in most European countries.
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SOURCE: Bureau of Labor Statistics.
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