Processor time accounting is enhanced by per-thread internal resource usage counter circuits that account for usage of processor core resources to the threads that use them. Relative resource use can be determined by detecting events such as instruction dispatches for multiple threads active within the processor, which may include idle threads that are still occupying processor resources. The values of the resource usage counters are used periodically to determine relative usage of the processor core by the multiple threads. If all of the events are for a single thread during a given period, the processor time is allocated to the single thread. If no events occur in the given period, then the processor time can be equally allocated among threads. If multiple threads are generating events, a fractional resource usage can be determined for each thread and the counters may be updated in accordance with their fractional usage.