Unit Labour Costs : Whole Economy : % change quarter on previous quarter SA:UK

4 November 2020

The initial compilation of Unit Labour Costs for the October 7th publication failed to include the various government schemes, introduced during the first lockdown, as part of the ULC calculation. These schemes are employment subsidies and should have been deducted from total labour costs to give a more accurate interpretation of the labour costs of productive faced by producers of goods and services.