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Nominal unit labour cost growth
The unit labour cost (ULC) is defined as the ratio of labour costs to labour productivity. Nominal ULC (NULC) = (D1/EEM) / (B1GM/ETO) with D1 = Compensation of employees, all industries, current prices EEM = Employees, all industries, in persons (domestic concept) B1GM = Gross domestic product at market prices in millions, chain-linked volumes reference year 2010 ETO = Total employment, all industries, in persons (domestic concept) The input data are obtained through official transmissions of national accounts' country data in the ESA 2010 transmission programme.
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