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Austria: Competitive advantages for unit labor costs

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In Germany, productivity is higher than the other industrialized countries examined in the study, and also higher than in Austria. Nevertheless, the economist wrote that “France and Austria were similarly productive to Germany, whereas the other countries were significantly behind: the United Kingdom and Canada by close to one-fifth, Spain, Japan and Italy by almost 40 percent.” However, the high productivity in Germany is not sufficient “to compensate for the disadvantage of high wage costs.”

Concerning unit labor costs in manufacturing industry, the level in Austria is put at 88, or twelve percent lower than the unit labor costs in Germany (100), according to the institute. Unit labor costs in the Eurozone were set at an average of 97. Italy ranks at the top, with unit labor costs of 110, whereas these costs in the USA are 25 percent lower than in Germany. 

Service: http://www.iwkoeln.de/presse/pressemitteilungen/beitrag/lohnstueckkosten-deutschland-hat-keinen-preisvorteil-262009

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