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.
JEL-Codes:F16, F31, J3, L6
Keywords:Unit labour costs, price competitiveness, manufacturing
Forschungsbereich:Industrie-, Innovations- und internationale Ökonomie – Arbeitsmarktökonomie, Einkommen und soziale Sicherheit