Labor Cost Index

Global Ranking

Source: IMF

Current Rank	Country	Value	Latest Reading	Previous Rank	Previous Value

1	Ukraine	4541.22	1-2022	1	5437.14
2	New Zealand	1356	9-2023	2	1341
3	Turkey	921.16	6-2023	3	864.07
4	Bolivia	383.67	6-2023	4	398.16
5	Azerbaijan	301.18	6-2023	5	294.45
6	Belarus	296.06	9-2023	6	294.12
7	Moldova	283.15	6-2023	7	267.11
8	Hong Kong	262.7	6-2023	8	258
9	Macedonia	258.28	6-2023	9	246.95
10	Georgia	226.85	6-2023	10	215.8
11	United Kingdom	211.41	6-2023	11	204.68
12	China	204.02	12-2019	12	195.63
13	Bosnia and Herzegovina	195.4	6-2023	13	191.1
14 ↑	United States	169.01	6-2023	15	170.36
15 ↑	Canada	158.25	6-2023	16	155.19
16 ↑	Russia	156.08	5-2023	39	117.09
17 ↑	Albania	154.27	6-2023	22	140.78
18 ↓	Chile	152.36	6-2023	17	149.82
19	Serbia	148.4	6-2023	19	143.3
20 ↓	Mexico	147.33	6-2023	14	183.54
21 ↓	Australia	145.5	6-2023	18	144.3
22 ↑	Iceland	144.4	3-2022	23	138.7
23 ↓	South Africa	143.3	3-2023	21	142.1
24 ↑	Bulgaria	140.7	6-2023	25	135.7
25 ↓	Lithuania	140.3	6-2023	24	137.4
26	Romania	139.1	6-2023	26	134
27	Hungary	138.4	6-2023	27	132.9
28 ↓	South Korea	138.2	12-2022	20	142.5
29	Poland	134.3	6-2023	29	129
30 ↑	Mongolia	131.78	12-2022	43	114.6
31 ↓	Montenegro	129.04	6-2023	30	126.3
32 ↓	Estonia	128.9	6-2023	31	125.6
33 ↓	Samoa	126.44	6-2023	32	122.99
34 ↑	Slovenia	126.1	6-2023	37	119.7
35 ↑	Croatia	126	6-2023	36	120.3
36 ↓	Slovakia	124.9	6-2023	35	120.5
37 ↑	Ireland	124.1	6-2023	48	110.2
38	Latvia	123.9	6-2023	38	118.7
39 ↑	Tajikistan	122.72	3-2019	41	115.73
40 ↑	Cyprus	118.5	6-2023	42	115.7
41 ↑	Rwanda	118.35	12-2022	47	110.51
42 ↓	Taiwan	115.85	6-2023	40	115.86
43 ↑	Belgium	115.3	6-2023	44	114.2
44 ↓	Greece	114.6	6-2023	28	129.2
45	Netherlands	114.1	6-2023	45	113.4
46 ↓	Thailand	113.55	6-2023	33	121.03
47 ↑	Austria	113.5	6-2023	53	109.2
48	Luxembourg	111.9	6-2023	48	110.2
49 ↑	Czech Republic	111.7	6-2023	52	109.3
50 ↑	Sweden	111.2	6-2023	51	109.6
51 ↑	Finland	111.1	6-2023	55	107
52 ↓	Norway	110.7	6-2023	34	121
52 ↓	Germany	110.7	6-2023	46	110.7
54 ↑	Malta	110	6-2023	56	106.8
55 ↓	Portugal	109.8	6-2023	50	110
56 ↓	France	108.3	6-2023	54	107.7
57 ↑	Spain	107.8	6-2023	58	106.1
58 ↓	Denmark	107.7	6-2023	57	106.3
59 ↑	Italy	102.8	6-2023	60	100.7
60 ↓	Japan	102.4	6-2023	59	101.1

Definition of Labor Cost Index

The index reflects the level of the total compensation of employees in the economy. Labor costs are defined as core expenditure borne by employers for the purpose of employing staff. They include employee compensation, with wages and salaries in cash and in kind, employers' social security contributions and employment taxes regarded as labor costs minus any subsidies received.