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Increase in unit labor cost

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Aug 26, 2020
What does an increase in unit labor cost mean?

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Andrea T.
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Aug 26, 2020

Unit labor cost measures the price of labor for a single unit of output, such as a single product. While a small business may calculate the unit labor cost specific to its business, the U.S. Bureau of Labor Statistics calculates unit labor cost on a national level. In general, an increase in unit labor cost means lower productivity.

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