Unit Labor Cost Definition and Explanation PDF Download
Learn Unit Labor Cost definition in hrm with explanation to study “What is Unit Labor Cost”. Study unit labor cost explanation with HRM terms to review HRM course for online MBA programs.
Unit Labor Cost Definition:
Computed by dividing the average cost of workers by their average levels of output.
Human Resource Management by Robert L. Mathis, John H. Jackson
Unit Labor Cost Explanation:
Unit labor costs (ULC) measure the normal expense of work per unit of yield and are determined as the proportion of all out work expenses to genuine output.In wide terms, unit work costs show how much yield an economy gets with respect to wages, or work cost per unit of yield. ULCs can be determined as the proportion of work pay to genuine GDP. It is likewise what could be compared to the proportion between work remuneration per work input (every hour or per worker) worked and work efficiency. Unit work costs (ULCs) speak to an immediate connection among profitability and the expense of work utilized in producing yield. An ascent in an economy's unit work expenses speaks to an expanded reward for work's commitment to yield. In any case, an ascent in labor costs higher than the ascent in labor profitability might be a risk to an economy's cost aggressiveness, if different expenses are not balanced in pay.
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