Figure 4: Whole economy unit labour costs and their compositions, growth on quarter a year ago
Seasonally Adjusted, UK, Quarter 1 (Jan to Mar) 2008 to Quarter 3 (July to Sept) 2018
Source: Office for National Statistics
Labour costs per hour estimates will differ from those in our Index of Labour Costs per Hour bulletin, due to differences in methodology.
Output per hour has its sign reversed in Figure 4. In this presentation, positive output per hour growth has a negative effect on ULC growth, while negative output per hour growth has a positive effect on ULC growth.