Measuring costs of labor as a portion of total production costs has
never before been treated so thoroughly or so thoughtfully. Moreover,
contrary to most recent labor research, this book focuses on the demand
side--the employer's point of view--and the behavior studied is employer
behavior.
An introductory essay by the editor provides a useful guide to current
thought in the analysis of labor cost. Other papers give new insights
into problems encountered in accounting for the nonwage elements of
labor compensation, the effect of pensions and other benefits, and the
wage-measurement questions raised by incomes policies. In addition,
there is a wealth of valuable new data on labor costs in the United
States.
Labor economists, statisticians, econometric modelers, and advisers to
government and industry will welcome this up-to-date and comprehensive
treatment of the costs of production.