The labor cost of consistent unit of production. A good way to think about this figure is how much do employer's end up paying in wages per product made. Unit wage costs give an idea of the level of worker productivity and prevailing labor costs for UK corporations. Unit wage costs are inversely related to productivity because when workers become more productive the cost of each unit produced by that worker drops. Higher productivity helps to ease inflationary pressures.

The headline value is the annualized percentage change in unit wage costs from the previous year's quarter.

Relevance: Rarely affects markets
Release schedule : Quarterly with the Productivity reports
Source of report : Office for National Statistics
Web Address : http://www.statistics.gov.uk/
Address of release : http://www.statistics.gov.uk/instantfigures.asp (released with Productivity reports)