The Crisis Impacted Austria's International Unit Labour Cost Position in 2009
The economic crisis has affected the unit labour cost position of the Austrian manufacturing sector. Per-capita labour productivity declined by 10.1 percent in Austria, while EU trading partners saw a drop in productivity of 11.1 percent. At the same time, labour costs rose by 2.0 percent in Austria, compared to an average decline of 1.0 percent among the EU trading partners. Thus manufacturing unit labour costs increased by 13.5 percent in Austria, while EU trading partners saw a rise in unit labour costs of 9.8 percent. In the economy as a whole, unit labour costs rose by 4.8 percent, more than the average of EU trading partners (+2.7 percent) and of all trading partners (+3.4 percent). These numbers must be considered with some caution. Policy measures to fight the crisis and their impact differed between countries. Moreover, countries were differently affected by the global economic crisis. This limits the explanatory power of unit labour costs as an indicator of international competitiveness for 2009.
Volume (Year): 83 (2010)
Issue (Month): 9 (September)
|Contact details of provider:|| Postal: |
Phone: (+43 1) 798 26 01-0
Fax: (+43 1) 798 93 86
Web page: http://www.wifo.ac.at/
More information through EDIRC
|Order Information:|| Postal: Austrian Institute of Economic Research Publikationsverkauf und Abonnentenbetreuung Arsenal, Objekt 20 A-1030 Vienna/Austria|
When requesting a correction, please mention this item's handle: RePEc:wfo:monber:y:2010:i:9:p:753-766. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ilse Schulz)
If references are entirely missing, you can add them using this form.