The relative unit labour cost (ULC) series measures the trading position of an individual country relative to its partners in the euro area and as such offers an indication about changes in its competitive position. The measure takes into account not only changes in market exchange rates, but also variations in relative price levels based on the unit labour cost and therefore can be used as indicators of competitiveness. The data are expressed as 10 years % change, and 1 year % change. A decrease in the relative unit labour cost index is regarded as an improvement of a country's competitive position relative to their trading partners in the euro area. Data source: Directorate General for Economic and Financial Affairs (DG ECFIN).