JSM 2014 Home
Online Program Home
My Program

Abstract Details

Activity Number: 387
Type: Topic Contributed
Date/Time: Tuesday, August 5, 2014 : 2:00 PM to 3:50 PM
Sponsor: Business and Economic Statistics Section
Abstract #312139 View Presentation
Title: International Comparisons of Unit Labor Costs and Manufacturing Competitiveness: Sources, Trends, and Implications
Author(s): Elizabeth Crofoot*+
Companies: The Conference Board
Keywords: international ; competitiveness ; unit labor cost ; productivity ; manufacturing ; industry
Abstract:

Unit labor costs (ULCs), defined as compensation per unit of output, are a widely used measure of international cost competitiveness. Trends in ULCs, however, differ widely across countries and, traditionally, have been explained in terms of underlying movements in productivity, compensation, and exchange rates. This paper examines the availability of ULC, productivity, and compensation data used for assessing international competitiveness. Three major data sources are reviewed: The Conference Board International Labor Comparisons (ILC) program, the OECD Structural Analysis Database (STAN), and the EU KLEMS Growth and Productivity Accounts. For each source, the paper derives and compares measures of manufacturing ULCs for overlapping countries. Despite some methodological and computational differences, the three databases yield similar conclusions about changes in competitiveness over time, as well as similar rankings of competitiveness relative to the U.S. Finally, using the ILC database, the paper presents ULC trends and levels for detailed manufacturing industries to shed light on variations in industry cost competitiveness.


Authors who are presenting talks have a * after their name.

Back to the full JSM 2014 program




2014 JSM Online Program Home

For information, contact jsm@amstat.org or phone (888) 231-3473.

If you have questions about the Professional Development program, please contact the Education Department.

The views expressed here are those of the individual authors and not necessarily those of the JSM sponsors, their officers, or their staff.

ASA Meetings Department  •  732 North Washington Street, Alexandria, VA 22314  •  (703) 684-1221  •  meetings@amstat.org
Copyright © American Statistical Association.