Below is the text of Mr Major’s written Parliamentary Answer on Unit Labour Costs on 19th November 1987.
Mr. John Marshall To ask the Chancellor of the Exchequer what are the latest figures for the growth of unit labour costs in the United Kingdom.
Mr. Major In the second quarter of 1987 unit labour costs for the whole economy were 4 per cent. higher than a year earlier. Manufacturing unit wage costs were 1.5 per cent. higher than a year earlier in the third quarter of 1987.