The major sector labor and multi-factor productivity database in
LABSTAT, the BLS data base -- the database containing productivty and
costs measures is identified by the two-character survey names, PR and MP.
You can get help with the data base by addressing e-mail to
[EMAIL PROTECTED]
Unit labor costs are provided for Business Sector, for Non-farm
business sector, and for manufacturing sector.
It is interesting, in light of the recent discussion of
Greenspan and capacity utilization, that unit labor costs have gone
down in manufacturing. the 3rd Quarter of 1994 was at 113.3 while the
1992 3rd quarter was at 116.3 and 4th Q of 1992 was at 117.0.
Presumably, in the high level of capacity utilization of today,
capacity unit costs (i. e. per unit of machine) that cost should be
down as well, since the machine costs are being divided over more
units. So why should prices be going up, what's keeping Greenspan
awake at night?
Answer: Prices aren't much determined by costs.
