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Feature Articles

Trends in Singapore's Unit Labour Cost During Recessions

21 May 2009

This article has been migrated from an earlier version of the site and may display formatting inconsistencies.

This box presents recent trends in unit labour cost1 (ULC) for the overall economy and the manufacturing sector, and compares them with the trends during past recessions. It also examines the drivers of ULC growth over the period 1992-2008 by decomposing it into the contribution of (the inverse of) productivity growth and increases in labour cost per worker.

Download for the full article [PDF, 100 KB]

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