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Sharp Drop in Relative Labor Costs and Unit Labor Costs in Manufacturing in 1997

Author

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  • Alois Guger

    (WIFO)

Abstract

After having worsened during the first half of the 1990s, the international unit labor cost position of Austrian manufacturing improved markedly in 1996 and 1997. As a result of continuously high productivity growth and modest increases in labor costs, Austrian unit labor costs fell by 1 percent in 1996, and 5 percent in 1997; the average of its trading partners decreased by 0.2 percent and 2.1 percent, respectively. With the recovery of major trading partners' currencies, the schilling depreciated by 1.5 percent in 1996 and 2 percent in 1997, so that compared to the average of unit labor costs of its trading partners (measured in a common currency), unit labor costs in Austrian manufacturing fell by 2.2 percent and 4.9 percent, respectively.

Suggested Citation

  • Alois Guger, 1998. "Sharp Drop in Relative Labor Costs and Unit Labor Costs in Manufacturing in 1997," Austrian Economic Quarterly, WIFO, vol. 3(4), pages 229-235, October.
    • Handle: RePEc:wfo:wquart:y:1998:i:4:p:229-235
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    References listed on IDEAS

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    1. Alois Guger, 1995. "Verschlechterung der Wettbewerbsfähigkeit trotz sinkender Lohnstückkosten," WIFO Monatsberichte (monthly reports), WIFO, vol. 68(8), pages 533-538, August.
    2. Wolfgang Pollan & Yvonne Wolfmayr, 1994. "Hohe Teuerung in Österreich in den Jahren 1992 und 1993," WIFO Monatsberichte (monthly reports), WIFO, vol. 67(7), pages 424-430, July.
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    Cited by:

    1. Fritz Schebeck & Andrea Weber, 1999. "Austrian Economy Prepared for EMU. Medium-term Projection for the Austrian Economy Until 2002," Austrian Economic Quarterly, WIFO, vol. 4(1), pages 21-29, January.

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