unit labour costs


unit labour costs
The total expenditure on labour per unit of output. A comparison between changes in productivity and unit labour costs in different countries enables economists to make predictions about changes in their competitiveness For example, if unit labour costs and productivity both rise by the same amount in the UK, UK producers do not have to change the prices of their goods; if, however, Japanese unit labour costs rise by less than productivity, Japanese prices could fall, making them increasingly competitive.

Big dictionary of business and management. 2014.

Look at other dictionaries:

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