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Nominal versus Real Convergance

Nominal versus Real Convergance. Rozalia Pal. Nominal Convergence. Source: Eurostat. Real convergence: Labour productivity and labour utilization. real convergence in terms of labour productivity:.

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Nominal versus Real Convergance

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  1. Nominal versus Real Convergance Rozalia Pal

  2. Nominal Convergence Source: Eurostat

  3. Real convergence: Labour productivity and labour utilization real convergence in terms of labour productivity: 1. Labour productivity: improved relative to the Euro Area, mainly due to the expanding shares of more productive sectors in total output and due to the decline in overall employment (increasing labour efficiency). 2. Labour utilisation: strong mismatches in the labor market. Increasing need of skilled labour 3

  4. Real convergence: Labour productivity Source: Eurostat

  5. Real convergence: Labour productivity Source: Eurostat

  6. Competitiveness: Real Labour Cost Growth 2005-2012 Source: Eurostat The data covered in the LCI collection relate to total average hourly labour costs and to the labour cost categories "wages and salaries" and "employers' social security contributions plus taxes paid minus subsidies received by the employer"

  7. Real convergence: Labour productivity Labour productivity: GDP per person employed Source: Eurostat

  8. Employment structure: mismatches in the Romanian labor market. Need of skilled labor Source: Eurostat 8

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