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: ©

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…