Austrian Unit Labor Costs Down in 2010

BusinessEconomy ♦ Published: September 20, 2011; 11:51 ♦ (Vindobona)

The Austrian competitiveness improved in 2010. Against 2010, unit labor costs decreased by 5.5%.

Austria could make its industrial production more efficient in 2010. However, against EU-trading partners (+0.4%) and especially against Germany (+2.6%), relative unit labor costs increased. Compared to all trading partners, unit labor costs decreased slightly by 0.7%.

The improved situation is mainly due to a compensatory effect. In 2009, productivity fell by 10.1%, which was…