Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
How do the wages compare with productivity?

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Thu May 6th, 2010 at 11:13:45 AM EST
[ Parent ]
How do the wages compare with local living costs?
by ThatBritGuy (thatbritguy (at) googlemail.com) on Thu May 6th, 2010 at 11:15:37 AM EST
[ Parent ]
by afew (afew(a in a circle)eurotrib_dot_com) on Thu May 6th, 2010 at 11:25:29 AM EST
[ Parent ]
Very good, in the Irish case, at the time, if you use GDP.

Ok, in the Irish case, at the time, if you use GNP.

Currently? Who knows? Wage and compensation cuts are helping GNP spiral downwards (though it seems to be bottoming out for the moment) so it probably doesn't look so good right now. On the other hand, the economic studies don't mention wages as being a problem for competitiveness until the executive summaries, as far as I can make out.

by Colman (colman at eurotrib.com) on Thu May 6th, 2010 at 11:19:51 AM EST
[ Parent ]


"Ce qui vient au monde pour ne rien troubler ne mérite ni égards ni patience." René Char
by Melanchthon on Thu May 6th, 2010 at 12:03:48 PM EST
[ Parent ]
Can we have a source for that?
by Colman (colman at eurotrib.com) on Thu May 6th, 2010 at 12:07:05 PM EST
[ Parent ]
Source of the graph: The crisis in Spain: So hard to bend | The Economist
In the euro's first ten years, output per worker rose by an average of 0.2% a year. In some years it fell even as wages grew quickly, which chipped away at Spain's cost competitiveness (see chart).


"Ce qui vient au monde pour ne rien troubler ne mérite ni égards ni patience." René Char
by Melanchthon on Thu May 6th, 2010 at 12:09:59 PM EST
[ Parent ]
Oh, a massive average(?) increase of 5%, in the best of years.

What was inflation doing during this time? What was the property market doing? And as for stocks:

by ThatBritGuy (thatbritguy (at) googlemail.com) on Thu May 6th, 2010 at 12:42:01 PM EST
[ Parent ]


"Ce qui vient au monde pour ne rien troubler ne mérite ni égards ni patience." René Char
by Melanchthon on Thu May 6th, 2010 at 12:07:54 PM EST
[ Parent ]
Source: Spain: economic adjustment in a strait-jacket - econoblog101
Remember: this is only productivity. Germany had falling real wages for the last 8 years or so while wages in Spain were growing (see graph from The Economist below)


"Ce qui vient au monde pour ne rien troubler ne mérite ni égards ni patience." René Char
by Melanchthon on Thu May 6th, 2010 at 12:13:00 PM EST
[ Parent ]

Display:

Occasional Series