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Despite Increase in Unit Labour Costs, Improvement of Austrian Unit Labour Cost Position 2019

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  • Werner Hölzl
  • Thomas Leoni

Abstract

Despite sluggish growth in Austrian foreign trade and in manufacturing, the Austrian unit labour cost position in the manufacturing sector improved, compared to the weighted average of the trading partners. This development was partly determined by the unit labour cost dynamics in Germany, where productivity declined significantly in 2019. The exchange rate development of the euro contributed to the improvement of the Austrian unit labour cost position, compared to the average of the non-euro trading partners.

Suggested Citation

  • Werner Hölzl & Thomas Leoni, 2020. "Despite Increase in Unit Labour Costs, Improvement of Austrian Unit Labour Cost Position 2019," WIFO Bulletin, WIFO, vol. 25(11), pages 101-113, December.
    • Handle: RePEc:wfo:wblltn:y:2020:i:11:p:101-113
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    References listed on IDEAS

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    6. Ursula Glauninger & Thomas Url, 2017. "Revised competitiveness indicators for Austria reflect a comparatively stable competitiveness development of the Austrian economy over the longer horizon," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q2/17, pages 73-110.
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    Cited by:

    1. Benjamin Bittschi & Andreas Reinstaller, 2021. "2020 Deterioration in Unit Labour Cost Position, but Data Distorted by COVID-19 Measures," WIFO Reports on Austria, WIFO, issue 12, November.

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