Indicateurs : Nominal unit labour cost index, 3-year change

Description: the nominal unit labour cost (NULC) is defined as the ratio of total compensation of employees (D1), in millions of national currency per total number of employees in persons divided by the ratio of GDP in market prices in millions, chain-linked volumes, reference year 2005 (CLV05), at 2005 exchange rates in national currency per total number of persons employed. The change in nominal unit labour cost is the change in total compensation of employees per number of employees not covered by the change in labour productivity plus the change in share of employees in total employment. In the Alert Mechanism Scoreboard, the indicator is expressed as percentage change of indexes comparing year t with year t-3. The thresholds for Euro Area Member States are -9% and +9% and for non-Euro Area Member States, -12% and +12%.

Unit: % change

Source: Eurostat, Macroeconomic Imbalances Procedure.