WIFO Reports on Austria

The WIFO Reports on Austria are short English-language analyses of economic developments in Austria. Contributions on the topics of business cycle, competitiveness, macroeconomics, labour market, digitisation, cash flow and unit labour costs are published regularly, summarising the main developments in these areas in Austria.

The articles of the previous issues "WIFO Bulletin" and "Austrian Economic Quarterly" can be found here: WIFO Bulletin, Austrian Economic Quarterly

SearchAdvanced search


Improvement in Unit Labour Cost Position in 2021
WIFO Reports on Austria, 2022, (15), 14 pages
Online since: 31.10.2022 0:00
In 2021, there is a significant decrease in unit labour costs in manufacturing of 5.4 percent compared to the previous year. In an international comparison, Austria's unit labour cost position improved in 2021 compared with the weighted average of all trading partners (–2.6 percentage points) and compared with EU trading partners (–2.7 percentage points). Moreover, the unit labour cost position has also improved significantly compared with Germany, the most important trading partner (–2.5 percentage points). Due to the differences between Austria and its main trading partners in the implementation and design of COVID-19 aid, measures (especially short-time work) as well as the details of the statistical recording of these measures in the national accounts, this year's values should still be interpreted with caution, both over time and between individual countries.
JEL-Codes:F16, F31, J3, L6
Keywords:Unit labour costs, Price competitiveness, Manufacturing
Research group:Labour Economics, Income and Social Security – Industrial, Innovation and International Economics

Contact persons

apl. Prof. Dr. Hans Pitlik

Function: Senior Economist, Editor-in-chief WIFO-Monatsberichte and WIFO Reports on Austria

Tamara Fellinger

Activities: Publications, website, subscriptions

Tatjana Weber

Activities: Publications, website, subscriptions