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3. Nominal unit labour cost per hour worked - annual data, percentage change and index (2015 = 100)

Nominal unit labour cost per hour worked - annual data, percentage change and index (2015 = 100)

The nominal unit labour cost (NULC) index is defined as the ratio of labour cost to labour productivity, where labour cost is the ratio of compensation of employees (current prices) to hours worked by employees, and labour productivity is the ratio of gross domestic product (at market prices in millions, chain-linked volumes reference year 2015) to total hours worked. The MIP indicator is expressed as the one-year percentage change. Data on employment are presented according to the domestic concept used in national accounts. Input data are obtained from the official national accounts' country data, through ESA 2010 transmission programme.