The Labour Cost Index
Abstract
This paper is a response to the requests of Canadian policy makers and researchers
to develop a comprehensive index of total labour costs for the Canadian economy.
This Labour Cost Index (LCI), which measures both wage and non-wage costs, would
be free from the influence of employment shifts in industries and occupations.
This paper provides a review of the U.S. Employment Cost Index (ECI). The paper
describes the LCI in general terms and compares this measure of labour cost
with some other Canadian labour market indicators. The paper lists some of the
uses and limitations of labour cost index based on the experiences of some other
countries with such an index. The paper outlines the proposed plans and micro
data model to be tested to develop a Canadian LCI. The major milestones and
development issues are summarized in the paper.
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