Table 2. Average annual percent change in compensation and exchange rates
Table 2. Average annual percent change in hourly compensation
costs in manufacturing and exchange rates
1997-2010 2009-2010
National Exchange U.S. National Exchange U.S.
currency rate dollar currency rate dollar
change change change change change change
(1) (2) (1) (2)
Argentina 15.7 -9.9 4.2 31.0 -4.8 24.8
Brazil 6.7 -3.7 2.8 9.2 13.5 23.9
Australia 4.3 1.6 6.0 2.1 16.1 18.5
Canada 2.7 2.3 5.0 5.7 10.8 17.1
New Zealand 3.3 0.7 4.0 2.7 13.5 16.5
Korea, Republic of 6.1 -1.5 4.5 3.8 10.3 14.5
Philippines 6.5 -3.2 3.1 4.8 5.7 10.8
Mexico 8.4 -3.5 4.6 2.3 6.9 9.4
Israel 4.5 -0.6 3.8 3.9 5.2 9.3
Singapore 2.9 0.7 3.5 2.0 6.7 8.9
Norway 4.9 1.2 6.2 4.3 4.1 8.6
Sweden 3.9 0.5 4.4 1.3 6.2 7.7
Taiwan 2.0 -0.7 1.3 2.6 4.8 7.5
Poland 6.8 0.6 7.5 3.3 3.5 6.9
Japan 0.3 2.5 2.8 -1.3 6.7 5.4
United States 3.2 0.0 3.2 1.9 0.0 1.9
Switzerland 1.9 2.6 4.5 -2.3 4.1 1.7
Czech Republic 6.0 4.0 10.2 1.1 -0.2 0.9
United Kingdom 4.1 -0.4 3.6 1.2 -1.3 -0.1
Greece 4.7 0.5 5.1 3.4 -4.8 -1.6
Italy 2.9 1.2 4.2 2.8 -4.8 -2.2
Denmark 3.7 1.2 5.0 2.7 -4.8 -2.2
Hungary 9.0 -0.8 8.1 0.0 -2.7 -2.7
France 2.5 1.3 3.8 1.8 -4.8 -3.1
Portugal 3.6 1.2 4.8 1.6 -4.8 -3.4
Belgium 3.1 1.3 4.4 1.3 -4.8 -3.6
Finland 3.9 1.1 5.0 1.2 -4.8 -3.7
Netherlands 3.1 1.2 4.4 1.2 -4.8 -3.7
Spain 3.9 1.2 5.1 0.6 -4.8 -4.3
Ireland 5.1 0.8 6.0 0.3 -4.8 -4.6
Slovakia 7.4 3.1 10.7 0.2 -4.8 -4.6
Germany 1.9 1.3 3.2 0.2 -4.8 -4.6
Estonia NA NA NA -0.9 -4.7 -5.5
Austria 2.4 1.3 3.7 -1.9 -4.8 -6.6
NA=data not available.
(1) Exchange rates are value of foreign currency relative to the U.S. dollar.
(2) U.S. dollar changes are approximately equal to national currency changes
plus exchange rate changes for each country.
Last Modified Date: December 21, 2011
