Unit labor costs in manufacturing, fourth quarter 2007
March 07, 2008
Unit labor costs in manufacturing increased at an annual rate of 2.1 percent (seasonally adjusted) in the fourth quarter of 2007, after falling 3.3 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. Manufacturing hourly compensation grew at a 4.4 percent annual rate during the fourth quarter of 2007 and productivity increased 2.3 percent.
These data are from the BLS Productivity and Costs program. Data in this report are seasonally adjusted annual rates. These estimates are subject to revision. Additional information is available in "Productivity and Costs, Fourth Quarter and Annual Averages, 2007 Revised" (PDF) (HTML), news release USDL 08-0293.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Unit labor costs in manufacturing, fourth quarter 2007 on the Internet at http://www.bls.gov/opub/ted/2008/mar/wk1/art05.htm (visited July 07, 2015).
Recent editions of Spotlight on Statistics
New estimates of personal taxes in Consumer Expenditure Survey
In 2013, the Consumer Expenditure Survey improved its personal tax data.
Trends in long-term unemployment
Long-term unemployment reached historically high levels following the recession of 2007–2009.
Housing: before, during, and after the Great Recession
looks at consumer expenditures on household items, employment in residential construction, prices for household items, and injuries in occupations involved in building and maintaining our homes.