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Unit labour costs actually fell.
Real unit labour costs rose in the past year.
As a result, unit labour costs fell in the quarter.
Unit labour costs have fallen sharply since 1996 (see chart).
Unit labour costs are falling, partly because productivity is climbing.
The result was that unit labour costs fell by 43%.
Inflation, he points out, has never risen meaningfully when unit labour costs are falling.In the first three months of 2004, unit labour costs rose, but by only 0.5%.
Flexible labour markets and low unit labour costs were the future.
Similar(3)
Unit-labour costs and the current-account balance in troubled countries are moving in the right direction.
Unit-labour costs have fallen and the labour market has become less rigid, making companies more competitive.
Unemployment was chronically high and unit-labour costs were above the euro-zone average.These days corporate Germany looks rather different.
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