The inscription on this plate reads: "Blessed the Free Labor."
Photo: Àðõèâíîå ôîòî
|
 |
The Labor Competition
The rapid growth of salaries in Russia is in sharp contrast with the situation in developed countries, where the salaries have been stagnant in the past years, analysts of Morgan Stanley (MS) said. Russia loses competitive ability by appreciating its currency and accelerating the salaries.
In Japan, for instance, the H1 nominal growth in salaries was just 0.5-percent. As the H1 inflation reached 0.5 percent, real salaries even lowered there. In Europe, real salaries have stood still since 2001 and the United States benefits from the similar speed.
In acceleration, Russia’s economy drags behind India or China, but the pace of populace revenues is much faster here. The salaries grew 13.6 percent on year in September, while the nine-month increase was 12.8 percent vs. 10 percent a year earlier. The labor efficiency in Russia and China is relatively the same, the World Bank said, but its growth is much more moderate in Russia – just 5 percent to 6 percent in the recent years. It is half as much as the increase in salaries, i.e. the unit labor costs go up at the very high speed here.
The simultaneous increase in unit labor costs and appreciation of the national currency kills competitive ability of the country, warned analysts of Development Center. In Asia, they improve the competitive power by the leading growth of labor efficiency vs. the increase in salaries. The developed nations maintain it via stagnant salaries. But Russia loses competitive ability by appreciating its currency and accelerating salaries.
www.kommersant.com
All the Article in Russian as of Oct. 25, 2006
|
|
|
