2013년 3월 30일 토요일
productivity vs cost
http://www.bls.gov/opub/ted/2013/ted_20130328.htm
The figure from us gov. seems to show that productivity is inversely proportional to unit labor cost.
It is quite surprising, even if the data is from only one country for one year.
Reduced ULC might have increased capital expenditure (private fixed investment) and subsequently labor productivity.
http://www.bls.gov/news.release/archives/prin_03212013.htm
Data from prolonged period between 1987 and 2011 shows the same inverse relation.
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