Real Wage, Labor Productivity, and Employment Trends in South Africa: A Closer Look
The paper looks at the dynamics of employment in South Africa and examines the factors that contributed to the job-shedding observed during the recent financial crisis. The paper finds that the rapid growth of the real wage, which outpaced the labor productivity growth in most sectors, played an imp...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2012
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 12/92 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | The paper looks at the dynamics of employment in South Africa and examines the factors that contributed to the job-shedding observed during the recent financial crisis. The paper finds that the rapid growth of the real wage, which outpaced the labor productivity growth in most sectors, played an important role in suppressing employment creation. The paper also finds that while there is a co-integrating link between the real wage and labor productivity, the deviations from equilibrium are persistent and thus contribute to a weak link between real wage growth and labor productivity growth in the short term. This finding is also supported by a cross-country analysis, which shows that in South Africa the link between the real wage and labor productivity is substantially weaker than in other emerging markets, even after controlling for labor market tightness indicators |
| Beschreibung: | 1 Online-Ressource (28 p) |
| ISBN: | 1475502826 9781475502824 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:17Z |
| indexdate | 2024-07-10T09:35:25Z |
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| spelling | Klein, Nir Verfasser aut Real Wage, Labor Productivity, and Employment Trends in South Africa A Closer Look Klein, Nir Washington, D.C International Monetary Fund 2012 1 Online-Ressource (28 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 12/92 The paper looks at the dynamics of employment in South Africa and examines the factors that contributed to the job-shedding observed during the recent financial crisis. The paper finds that the rapid growth of the real wage, which outpaced the labor productivity growth in most sectors, played an important role in suppressing employment creation. The paper also finds that while there is a co-integrating link between the real wage and labor productivity, the deviations from equilibrium are persistent and thus contribute to a weak link between real wage growth and labor productivity growth in the short term. This finding is also supported by a cross-country analysis, which shows that in South Africa the link between the real wage and labor productivity is substantially weaker than in other emerging markets, even after controlling for labor market tightness indicators Online-Ausg http://elibrary.imf.org/view/IMF001/12728-9781475502824/12728-9781475502824/12728-9781475502824.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Klein, Nir Real Wage, Labor Productivity, and Employment Trends in South Africa A Closer Look |
| title | Real Wage, Labor Productivity, and Employment Trends in South Africa A Closer Look |
| title_auth | Real Wage, Labor Productivity, and Employment Trends in South Africa A Closer Look |
| title_exact_search | Real Wage, Labor Productivity, and Employment Trends in South Africa A Closer Look |
| title_exact_search_txtP | Real Wage, Labor Productivity, and Employment Trends in South Africa A Closer Look |
| title_full | Real Wage, Labor Productivity, and Employment Trends in South Africa A Closer Look Klein, Nir |
| title_fullStr | Real Wage, Labor Productivity, and Employment Trends in South Africa A Closer Look Klein, Nir |
| title_full_unstemmed | Real Wage, Labor Productivity, and Employment Trends in South Africa A Closer Look Klein, Nir |
| title_short | Real Wage, Labor Productivity, and Employment Trends in South Africa |
| title_sort | real wage labor productivity and employment trends in south africa a closer look |
| title_sub | A Closer Look |
| url | http://elibrary.imf.org/view/IMF001/12728-9781475502824/12728-9781475502824/12728-9781475502824.xml |
| work_keys_str_mv | AT kleinnir realwagelaborproductivityandemploymenttrendsinsouthafricaacloserlook |