[Excerpt] With increasing integration of global markets, international labor statistics assume a fundamental role in assessing the relative performance of individual economies and informing both national and international policy decisions. However, direct comparisons of statistics across countries can be misleading because concepts and definitions often differ. To improve the comparability of international labor statistics, the Bureau of Labor Statistics (BLS) International Labor Comparisons (ILC) program adjusts data to a common conceptual framework.
Charting International Labor Comparisons features data for the most recent year available, as well as trends over time, for the main indicators measured by ILC: gross domestic product (GDP), hourly compensation, labor force, prices, and productivity. To increase country and indicator coverage, data from other organizations also are included.
Through non-technical language and visual representations of data, this chartbook aims to:
• Increase knowledge of major economic indicators and their significance
• Present comparable data to illustrate the relative position and performance of covered countries
• Examine current and recent economic trends for highly industrialized countries
• Highlight the increasing importance and performance of major emerging economies
• Provide users with sources of comparable international data and, when applicable, caveats concerning comparability.