Friday’s graphic: let’s compare unit labour costs between us

A working paper by professor José Luis Mechea on possible exit scenarios from the current international economic crisis brings this already known but not fully appreciated picture. Here you are how unit labour costs have evolved since 1999 in a few euro zone countries, France, Greece, Ireland, Italy, Portugal and Spain, in comparison to Germany.

Obviously, there must be some link with this other graphic…

Yes. Unemployment.

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