According to the forecasts of the staff of the Eurosystem - the group of central banks of countries which use the Euro as their currency - the rate of increase in unit labor costs (the labor cost at which one unit of production is produced) will decrease considerably over the coming years, declining from a rate of 6.1 percent in 2023, to 4.1 percent in 2024 and 2.6 percent in 2025. This decrease in unit labor costs is set to be driven by a slowing in the growth of compensation per employee, which will decline from 5.3 percent in 2023 to 4.6 percent in 2024, coupled with an increase in labor productivity, the total output per person employed.

The Employment Cost Index (ECI) measures the change in the cost of labor, free from the influence of employment shifts among occupations and industries. The Employment Cost Index is based on figures from December 2005. In the third quarter of 2024, the ECI came to 166.8, indicating an increase of labor costs of 0.9 percent.

Graph and download economic data for Employment Cost Index: Wages and Salaries: Private Industry Workers (ECIWAG) from Q1 2001 to Q2 2025 about cost, ECI, salaries, workers, private industries, wages, private, employment, industry, inflation, indexes, and USA.

Manufacturing sector unit labor costs in the United States increased by 1.7 percent in the second quarter of 2025. The data are seasonally adjusted at annual rates. Unit labor costs describe the relationship between compensation per hour and productivity, or real output per hour, and can be used as an indicator of inflationary pressure on producers. Increases in hourly compensation increase unit labor costs; labor productivity increases offset compensation increases and lower unit labor costs.

Graph and download economic data for Nonfarm Business Sector: Unit Labor Costs for All Workers (ULCNFB) from Q1 1947 to Q2 2025 about unit labor cost, headline figure, sector, nonfarm, business, and USA.

Labour Costs in the United States increased to 123.62 points in the second quarter of 2025 from 123.13 points in the first quarter of 2025. This dataset provides the latest reported value for - United States Labour Costs - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Labor cost index in Hong Kong, March, 2025 The most recent value is 277.4 index points as of Q1 2025, an increase compared to the previous value of 276.7 index points. Historically, the average for Hong Kong from Q1 2004 to Q1 2025 is 202.68 index points. The minimum of 144.8 index points was recorded in Q3 2004, while the maximum of 277.4 index points was reached in Q1 2025. | TheGlobalEconomy.com

Labour Costs in China decreased to 54.20 points in July from 59.90 points in June of 2025. This dataset provides - China Labour Costs - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Labor cost index in the United Kingdom, June, 2025 The most recent value is 231.7 index points as of June 2025, an increase compared to the previous value of 231.17 index points. Historically, the average for the United Kingdom from January 2000 to June 2025 is 151.02 index points. The minimum of 95.86 index points was recorded in February 2000, while the maximum of 231.92 index points was reached in March 2025. | TheGlobalEconomy.com

Labour Costs In the Euro Area decreased to 112.20 points in the first quarter of 2025 from 122.40 points in the fourth quarter of 2024. This dataset provides the latest reported value for - Euro Area Labour Costs - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Labour Costs in Canada decreased to 132.01 points in the first quarter of 2025 from 132.37 points in the fourth quarter of 2024. This dataset provides - Canada Labour Costs - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Labor cost index in Mexico, June, 2025 The most recent value is 174.31 index points as of June 2025, a decline compared to the previous value of 211.82 index points. Historically, the average for Mexico from January 2008 to June 2025 is 99.09 index points. The minimum of 58.09 index points was recorded in February 2008, while the maximum of 211.82 index points was reached in May 2025. | TheGlobalEconomy.com

In the United States, nonfarm business sector unit labor costs decreased by 2.4 percent in the second quarter of 2025 compared to the previous quarter. The data are seasonally adjusted at annual rates. Unit labor costs describe the relationship between compensation per hour and productivity, or real output per hour, and can be used as an indicator of inflationary pressure on producers. Increases in hourly compensation increase unit labor costs; labor productivity increases offset compensation increases and lower unit labor costs.

Labor cost index in Thailand, December, 2024 The most recent value is 116.68 index points as of Q4 2024, an increase compared to the previous value of 115.36 index points. Historically, the average for Thailand from Q1 2013 to Q4 2024 is 111.51 index points. The minimum of 98.08 index points was recorded in Q2 2013, while the maximum of 127.25 index points was reached in Q2 2020. | TheGlobalEconomy.com

Labor cost index in Chile, June, 2025 The most recent value is 115.25 index points as of June 2025, an increase compared to the previous value of 114.52 index points. Historically, the average for Chile from January 2016 to June 2025 is 84.75 index points. The minimum of 65.06 index points was recorded in February 2016, while the maximum of 115.25 index points was reached in June 2025. | TheGlobalEconomy.com

Graph and download economic data for Labor Compensation: Unit Labor Cost: Manufacturing: Total for United States (LCULMN01USA661S) from 1960 to 2022 about unit labor cost, compensation, manufacturing, and USA.

Graph and download economic data for Manufacturing Sector: Unit Labor Costs for All Workers (ULCMFG) from Q1 1987 to Q2 2025 about unit labor cost, sector, manufacturing, and USA.

Labour Costs in Serbia increased to 190.70 points in the first quarter of 2025 from 166.70 points in the fourth quarter of 2024. This dataset provides - Serbia Labour Costs- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Romania - Labour cost index was 16.10 % year-on-year in March of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Romania - Labour cost index - last updated from the EUROSTAT on September of 2025. Historically, Romania - Labour cost index reached a record high of 17.10 % year-on-year in September of 2024 and a record low of 3.90 % year-on-year in June of 2021.

Poland - Labour cost index was 11.20 % year-on-year in March of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Poland - Labour cost index - last updated from the EUROSTAT on September of 2025. Historically, Poland - Labour cost index reached a record high of 14.10 % year-on-year in March of 2024 and a record low of 4.80 % year-on-year in September of 2020.