The new experimental index of labour costs per hour
"The Index of Labour Costs per Hour (ILCH) is a new experimental statistic which provides a timely indicator of changes in the cost of labour per hour worked to the employer. The ILCH goes beyond existing earnings indicators to include non-wage costs. The ILCH will reflect changes in wages and salaries, non-wage costs, and the quantity of hours worked over time and will assist users in monitoring inflationary pressures emanating from the labour market.This article introduces the ILCH, briefly describes the methodology used to create the ILCH, compares the ILCH with other earnings indicators and looks at future developmental work."
Paper
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