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Nominal unit labour cost index
3 year % change
The unit labour cost (ULC) is defined as the ratio of labour costs to labour productivity.
Nominal ULC (NULC) = (D1/EEM) / (B1GM/ETO) with:
The input data are obtained through official transmissions of national accounts' country data in the ESA2010 transmission programme. The scoreboard indicator is the percentage change over three years of nominal unit labour cost (NULC). The indicative threshold is 9% for the euro area countries and 12% for the non-euro area countries.
The scoreboard indicator is calculated using the formula: [(ULCt – ULCt-3)/ULCt-3]*100.
Source: Eurostat, MIP indicators.