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In Hungary and Germany the wedge is over 50% of total labour cost, though it fell last year.
We start in 2000 since the total labour cost series is only available 2000 onwards, and we need full comparability across series.
Wages Firm's hourly wage rate (total labour cost divided by effective total hours of work) deflated by the firm's price index of output.
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.
Table 5 The total cost for the rooftop level rainwater harvesting system System materials (part no. in Fig. 5) Cost 1 × 10 W 12 V water pump (10) 20 2 × Float switch (6, 17) 17 1 × Water level control circuit 9 1 × Pipe-like drain cap (11) 25 1 × Multi-stage water filter (7) 38 All necessary pipe and fittings 51 Total material cost 160 Total labour cost 94 Total cost 254.
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Murphy said total labour costs, including exceptional pension expenses, were 16.9% of revenue and total labour costs "should not be a critical cause for concern".
Portuguese and Greek manufacturers enjoy the lowest total labour costs, at $5.52 and $9.55 per hour respectively.
Total labour costs per worker are especially high in several European countries.
As chart 3 shows, in countries where public spending on social insurance is high, taxes and social-security contributions account for a large slice of total labour costs.
They argued that growth in total labour costs "had been steady" and a "very slight increase in wage settlements in 2015".
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CEO of Professional Science Editing for Scientists @ prosciediting.com