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Office of the Assistant Secretary for Policy

CHART 3.6

Average annual growth rates in manufacturing unit labor costs, 1994-2004
in U.S. dollars

Unit labor costs (ULC) are a component of total production costs and product prices. Declines in ULC indicate that a country is becoming more cost-competitive.

ULC declined in the U.S. and three Asian economies while increasing in most European countries.

Chart of average annual growth rates in manufacturing unit labor costs, 1994-2004 in U.S. dollars

SOURCE: Bureau of Labor Statistics.