Labour productivity indicates how much of gross domestic product or gross value added price-adjusted was produced in a hour worked by persons in employment over a given period. Compensation of employees per hours worked by persons in employment provides labour costs. The ratio of labour costs to labour productivity provides unit labour costs. This aggregate, which is frequently published as a relative, indicates the development of wages and salaries per quantity unit.
Version: 2.25.5 / 20.10.2008