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Unit Labour Cost Position for Goods Production Deteriorated Slightly in 2013 Due to Foreign Exchange Rate Development and Economic Stagnation

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  • Werner Hölzl
  • Thomas Leoni

Abstract

The modest development in workers' productivity due to the downturn led to a rise in unit labour costs of about 2.1 percent compared to the year before. Combined with an unfavourable exchange rate development (+1.8 percent), this affected the unit labour cost position for Austrian goods producers compared to the average of Austria's trading partners. A comparison with Germany nevertheless found a slight improvement, same as last year. In the long term the unit labour cost position of goods producers in Austria has hardly budged relative to its trading partners since 2003.

Suggested Citation

  • Werner Hölzl & Thomas Leoni, 2014. "Unit Labour Cost Position for Goods Production Deteriorated Slightly in 2013 Due to Foreign Exchange Rate Development and Economic Stagnation," WIFO Bulletin, WIFO, vol. 19(13), pages 121-131, November.
    • Handle: RePEc:wfo:wblltn:y:2014:i:13:p:121-131
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    References listed on IDEAS

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    1. Werner Hölzl & Thomas Leoni, 2013. "Unit Labour Cost Position in the Production of Goods Stable in 2012 despite Economic Slump," Austrian Economic Quarterly, WIFO, vol. 18(3), pages 177-187, November.
    2. Carlin, Wendy & Glyn, Andrew & Van Reenen, John, 2001. "Export Market Performance of OECD Countries: An Empirical Examination of the Role of Cost Competitiveness," Economic Journal, Royal Economic Society, vol. 111(468), pages 128-162, January.
    3. Thomas Leoni, 2012. "Unit Labour Costs in Goods Production Declined in 2011," Austrian Economic Quarterly, WIFO, vol. 17(4), pages 243-255, December.
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    Cited by:

    1. Werner Hölzl & Thomas Leoni, 2015. "Unit Labour Cost Position of Austrian Manufacturing Shows Moderate Deterioration in 2014," WIFO Bulletin, WIFO, vol. 20(17), pages 190-201, November.

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