This paper discusses the construction of unit labour costs (ULC) and presents a set of experimental estimates. The series is released as experimental because Statistics New Zealand is seeking feedback on the usefulness and timeliness of the series.
ULC measure the average cost incurred in the employment of labour relative to labour productivity. This means that if there is an increase in average labour cost and an equal increase in labour productivity there will be no change in the ULC. The methodology adopted here is consistent with international best practice, as outlined by McKenzie and Brackfield (2008).
Statistics NZ's experimental ULC series consists of the following annual indicators:
- Nominal ULC: Level, index, and percentage change
- Real ULC: Level, index, and percentage change.
These indicators are available for the following levels of aggregation:
- Total economy
- Measured sector
- Measured sector excluding agriculture, forestry, and fishing
- Goods-producing industries
- Service industries
- Industry level.
Statistics NZ welcomes your feedback by 30 September 2011.
Contact:
Lizette van Heerden
04 931 4600
productivity@stats.govt.nz
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Citation
Statistics New Zealand (2011). Experimental estimates of unit labour costs: 1996–2010. Wellington: Statistics New Zealand
Published in June 2011 by
Statistics New Zealand
Tatauranga Aotearoa
Wellington, New Zealand
ISBN 978-0-478-37713-2 (online)
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