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Diversified economies’ must increase their global competitiveness, since unit labor costs are much higher than China or India

Unit labor costs1 Wages/valuueeaadddeddperworkrerer

China

16

India

23

South Africa

46

Egypt

57

Morocco

60

1 Unit labor costs are defined as the wages divided by the output per worker and are computed by taking the average of a large sample of firms in a particular country.

SOURCE: Enterprisesurveys.org; Ramachandran, Gelb, and Shah (2009); Kinda, Plane et al (2009); McKinsey Global Institute

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