Will the Decline in Unit Labor Cost in Europe's Troubled Economies Help Improve Competitiveness?
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Publication Date:
January 31, 2013
As Europe’s sovereign debt crisis continues to stunt economic growth in the region, unit labor costs (ULCs) are changing amid growing signs that the restructuring underway in the most troubled national economies may be having a positive effect. Will the blood, sweat, and tears poured into reforming the economy pay off?
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