All the factors that encourage high growth remain in place low labor costs, education, high savings, improving infrastructure, and rapid urbanization.

The adjustment might come about through wage increases in countries with lower labor costs, rather than cuts in countries where costs are too high.

Rising labor costs are inevitable.

The result has been elevated unit labor costs relative to France s peer group (especially Germany) and stubbornly high unemployment.

Slack labor markets with rising unemployment rates will cap wage and labor costs.

Given lower labor costs, local businessmen could decide to invest under the conditions of uncertainty and high risk that characterize post conflict situations.

Unit labor costs have risen, and potential output growth has fallen.

Persistently weak labor productivity growth has created a situation in which unit labor costs do not fall, even if real wages remain stagnant or decline. Indeed, despite a 1.3 drop in real wages in 2011, unit labor costs remained unchanged.

French production costs are high, but Greek costs are higher.

The costs can be high.

Moreover, a new labor law and income policies will further increase workforce costs.

Unit labor costs in Greece, Portugal, Spain, and Italy grew 20 30 faster than in Germany in the euro s first decade, and somewhat faster than unit labor costs in northern Europe as a whole.

High unit labor costs and unemployment rates are responsible, in turn, for reducing the trend rate of economic growth, mainly owing to under utilized labor, while the combination of lackluster growth and an ever mounting welfare burden has resulted in chronic budget deficits.

Declining competitiveness is best captured in a single indicator unit labor costs, which measure the average cost of labor per unit of output.

How is this possible? After all, higher productivity should bring lower unit labor costs.

His land costs are low. So are his labor costs, since he relies on family and friends to weed and pick the crop.

Indeed, despite a 1.3 drop in real wages in 2011, unit labor costs remained unchanged.

Competitiveness, which is usually measured in terms of unit labor costs, is a relative concept.

Labor costs in the US industrial sector are currently 25 lower than the European average.

Persistently weak labor productivity growth has created a situation in which unit labor costs do not fall, even if real wages remain stagnant or decline.

After a decade that saw wages grow faster than productivity, unit labor costs (and the real exchange rate based on those costs) appreciated sharply.

Although the labor force was traditionally skilled and efficient, inadequate incentives for labor and management contributed to high labor turnover, low productivity, and poor product quality.

The resulting rise in output per worker, together with slow wage growth, reduced unit labor costs.

One must also recognize that low labor costs are an essential component of China s competitive advantage.

They may think that, in the long run, parities will reflect developments in relative unit labor costs.

But there are high costs associated with intellectual property.

Meanwhile, high domestic borrowing costs are undermining private investment.

Finally, flexible labor market policies seem to be important, too. Legal requirements that significantly increase the costs of hiring and firing labor discourage employment creation in new industries.

As China s demographic dividend disappears, its low end labor market is shrinking, driving up its once rock bottom labor costs and diminishing its rate of return on capital.

Legal requirements that significantly increase the costs of hiring and firing labor discourage employment creation in new industries.

Since the euro s introduction, unit labor costs have risen dramatically faster in France than they have in Germany.

Germany s labor costs fell relative to the rest of the eurozone, and its exports and GDP growth exploded.

As labor costs continue to climb, is China set to lose its coveted spot as the world s workshop?

That restructuring of insurance would simultaneously protect individuals, increase labor mobility, and help to control health care costs.

Unit labor costs reflect compensation levels and productivity gains in productivity can offset the effect of wage growth.

Likewise, increasing pressure from growing labor costs will force enterprises to lower their profit expectations and cut costs, negatively affecting output growth and employment in the short run.

Keeping a weak banking system afloat has high economic costs.

Labor market reform Persistently high unemployment and large scale withdrawal from the labor force are a constant reminder of a malfunctioning labor market that needs support through better training and retooling.

As China s global economic role increases, its labor costs will rise and its currency will appreciate, eroding its competitiveness.

High borrowing costs are needed to focus minds and instill discipline.

Sometimes it might even pose high costs for the alleged beneficiaries.

Alternatively, labor could migrate from high unemployment southern Europe to lower unemployment northern Europe.

Labor and many product markets remain closed, despite the urgent need to increase competition, lower production costs, and raise productivity.

High and rising inflation creates great costs and is difficult to reverse.

But the costs of moving into a non defaulting environment are high.