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Hourly labour productivity grew by 2.1% a year from early 1992 to late 2005.
Ford's hourly labour cost, including wages, benefits and pensions, was $58 last year.
The management of Ford reckon this has left its hourly labour costs several dollars higher than its rivals'.
In 2000 hourly labour costs in France were 8% lower than those in Germany, its main trading partner; today, they are 10% higher (see chart 2).
Average hourly labour costs were euro25 in 1999, nearly 40% higher than the average in other industrial countries, according to a study by the Cologne Institute.
After payment of these charges, the average hourly labour cost in France is €35.50 £29.455), compared with €32.50 £26.966) in Germany.
Similar(42)
From the ETCL we obtain the effective hourly total labour cost (TC), which we think it is the relevant variable when examining how sensitive factor prices are to labour market shocks.
The striking feature is the fact that nominal wages (as measured by the hourly total labour cost) have always grown above the CPI with hardly any exception, even during the most severe crisis years 2011 2012.
Don Michie, of NAFTA Ventures, a consultancy, estimates that these raise the average hourly cost of labour from $3 to $5.70.
Bankruptcies this year are a third up even on last year's record.The hourly cost of labour in manufacturing industry in western Germany, including wages, social-security (including health) and pension contributions, is 13% more than in America, 43% more than in Britain and 59% more than in Spain, according to the US Bureau of Labour Statistics (see chart 3).
He isn't aware that World Flowers, which delivers more than 1bn flowers a year, is paying his gangmaster £6.85 hourly for supplying his labour.
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