OECD Compendium of Productivity Indicators 2015

International competitiveness

DOI:https://dx.doi.org/10.1787/pdtvy-2015-17-en

Despite their frequent use, unit labour costs (ULC) are an incomplete measure of international competitiveness and they need to be complemented with other indicators. In an era of global value chains, a measure based only on the costs of domestic labour may not be representative of overall cost ...



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