International Unit Labour Cost Position Improved in 2004

Alois Guger

Austrian Economic Quarterly, 2006, vol. 11, issue 1, pages 40-48

Abstract: In the international hierarchy of labour costs Austria ranked ninth in 2004. Hourly labour costs were most expensive in Denmark, Norway and Germany. In 2004 one hour of blue-collar labour in Austrian manufacturing cost 20.80 €, hence 2.25 percent less than the average paid in the EU. With exchange-rates stabilised, lower wage inflation and high productivity growth, the relative unit labour cost position of Austrian manufacturing has improved by approximately 20 percent since the mid-1990s. In 2004 unit labour costs decreased by 3.5 percent; Austria also gained ground over its trading partners.

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