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Austrian Competitiveness Under Pressure
Politics ♦
Published: October 1, 2013; 05:54 ♦ (Vindobona)
Last year, Austrian labor costs grew stronger than productivity.
Austrian Competitiveness Under Pressure / Picture: © Vindobona.org
According to the Austrian Institute of Economic Research (WIFO), labor costs in Austria´s industrial sector moved up 3.2%. The increase in productivity was only 0.1%, however. As a result, unit labor costs increased 3%, WIFO says.
Compared to other Eurozone countries, Austria´s unit labor costs are still competitive. Even Germany recorded a higher rise in unit labor costs…
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