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HandoutLaborProd_Wages

HandoutLaborProd_Wages - Average wage(relative to the...

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Unformatted text preview: Average wage (relative to the United States) Average labor productivity (relative to the United States) Source: Based oh GdiUb (1999); updated data generously‘prqvided 5yrStse§henTGelutsi ‘ United States France $ per $60 $ per $50 g hour Productivity hour 40 i 30 20 10 Years (1973—2001) Years (1973—2001) Japan Sweden 5 per $50 $ per $60 hour 40 hour 30 20 10 40 20 Years (1973—2001) Years (1973~2001) Italy Korea 5 per $40 $ per $20 hour 30 hour 15 , 20 _ 10 Years (1973—2001) V Years (1973—2001) Taiwan $ per $15 5 hour 3 10 5 3 Years (1973—2001) Labor Productivity and Wages over Time The trends in general upward movement in labor productivity is matched by labor productivity and wages can also be graphed over time. The upward movements in wages, as predicted by the Ricardian model. Source: U5. Department of Labor, Bureau of Labor Statistics. 3 § E - .r-»w~4~M ,MWM .4 can-WW, .... ,WWWVM... r Mk.»MW“WMWVWfiawwwnaflwmmaw“mum.“, .1e--)mn._.‘.,m.‘.flwflwmw ...
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