Labor productivity will rise 9.8% in Q3 2008 compared to the similar period of 2007, following the estimated favorable evolution of industrial production, backed also by a decrease in the number of employees, reveals a trend survey conducted for the third quarter of the year by the National Forecast Commission (CNP).
Productivity will rise by some 9.6% over the first three quarters of the year compared to the similar period of 2007.
In Q2, labor productivity advanced 10% from the similar period of the year before due both to the growth in industrial production and the trimming of the number of employees.
The real labor cost per unit in industry slid 4.2% over the first six months of the year compared to the similar period of 2007, mainly because the labor productivity outpaced the gross real wage in this period.
The real labor cost per unit is expected to decrease 5.2% over the first nine months of 2008 from the similar period of the previous year, which will further rise the competitiveness of industrial products, and translating also into an upward evolution of the turnover.