Strong Increase in Unit Labor Costs

Business › Economy ♦ Published: June 29, 2012; 19:32 ♦ (Vindobona)

Since 2008, the Austrain economy records a disproportionately high increase in unit labor costs. The average of the eurozone amounts to 6.4%. In Austria, the unit labor costs were up by 11.1%.

Strong Increase in Unit Labor Costs / Picture: © Vindobona.org

Since 2008, the Austrian competitiveness is shrinking substantially. Unit labor costs were up by 11.1%, which is the fifth-highest increase in the EU behind Slovenia, Slovakia, Finnland and Belgium.

Also in Germany and France, the increase was higher than in theaverage oft he EU. By contrast, the financially stricken countries Italy and Greece recorded lower growth rates. In…

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