工资成本的增加远非更高的生产率所能抵消的。
The increase in pay costs was more than offset by higher productivity.
在过去的一年里，实际工资成本增加了10%。
这个神话导致了这样一种假设，即公司可以通过降低工资来降低劳动力成本。
This myth leads to the assumption that a company can simply lower its labor costs by cutting wages.
大量的固定雇员使得企业很难通过降低工资成本来迅速应对需求下降。
Large numbers of permanent employees make it difficult for organizations to respond quickly to downturns in demand by decreasing payroll costs.
考虑到人工成本占日托中心费用的80%，人们可能会认为工资持平就意味着价格持平。
Considering that labor costs are responsible for up to 80% of a daycare center's expenses, one would expect flat wages to have meant flat prices.
事实上，做家庭作业的动机是雇主希望将固定成本降到最低：在家工作的人没有福利，工资也比正式员工低。
In fact, homework is driven by employers' desires to minimize fixed costs: homeworkers receive no benefits and are paid less than regular employees.
例如，著名的商业杂志经常评论德国劳动力的“高”成本，以德国工人的平均工资作为证据。
For example, prominent business journals often remark on the "high" cost of German labor, citing as evidence the average amount paid to German workers.
公司支付给员工的工资也变得更少，因为公司要为雇佣安排承担容错成本。
Firms pay staff less because firms carry the burden of the employment arrangement going wrong.
因此，尽管中国的工资成本通常更为低廉，但技术水平以及由此导致的质量和生产率水平可能也要低得多，这在许多其他行业中也如是。
Thus, while salary costs in China often are lower, the skill level and the resulting quality and productivity levels are likely to be considerably lower for many vocations as well.
但是尽管工资成本今年已经略有上升，他们的增长率依然被压制。——到第二季度为止今年大约是2.3%或者2.4%，这取决于你的测量方法。
But although wage costs have picked up a bit this year, their growth rate is still subdued-maybe 2.3% or 2.4% in the year to the second quarter, depending on your measure.
抛弃欧元将允许意大利，西班牙和其它国家货币贬值，使这些国家的工资成本与工人的生产力持平。
Leaving the euro would allow Italy, Spain and the rest to devalue and bring their wage costs into line with workers' productivity.
同时，在经历了一个很长的单位工资成本上涨的阶段后，意大利和西班牙的竞争力似乎有所受损。
Italy and Spain, meanwhile, look hamstrung by a loss of competitiveness following a long period in which unit wage costs have risen.
仅有的一个方法是打压这些相对于其竞争的国家之工资成本。
The only other solution is to drive down wage costs relative to those in competing countries.
就相对单位工资成本而言，自从引入欧元后，德国竞争力已经提升了大约13%。
In terms of relative unit wage costs, Germany's competitiveness has improved by around 13% since the euro started.
整体增长的减速和工资成本的上升共存的合力就会压低利润率。
A combination of slower overall growth and rising wage costs should squeeze profit margins.
今天的经济危机与欧盟内部工资成本有差异几乎无关。
Today's economic crisis has little to do with differential wage costs within the euro.
同时，更高的旅人率也时美国企业有更多吸收更高工资成本的能力。
And with profit margins fat, America's firms have room to absorb higher wage costs.
忧虑西班牙等欧元区国家的单位工资成本已经失控，所以他们的经济低迷期将会延长，这给通胀检测平添了不少负担，虽然也不算多。
The worry that euro-zone countries such as Spain may suffer prolonged slumps because they lost control of unit wage costs lends the inflation test some weight, though not much.
且同时低工资成本又襄助出口及就业率提升。
Lower wage costs, in turn, have helped boost exports and jobs.
唯一另外一个办法是相对于其它竞争国调低工资成本，可也代价不菲：德国的代价是高失业率和增长停滞。
The only other solution is to drive down wage costs relative to those in competing countries. This option is also costly: Germans have paid the price in terms of high unemployment and stunted growth.
他们必须应付不断增加的技工的工资成本，缺乏合适的工作人员的压力，还有来自当地的价格竞争。
They must cope with rising wages for skilled workers, a shortage of suitable staff and pricing pressure from local competitors.
但快速增收却掩盖了巨额成本的增加，尤其是燃料和工资成本。
But rapidly rising earnings masked huge cost increases, particularly in fuel and wages.
但如果他们被赋予了其他人一样的合法权益，这将实实在在地增加某些行业的工资成本，比如建筑业、农业和酒店业。
Giving them the same legal rights as everyone else might actually raise wages in sectors such as construction, agriculture and hospitality.
在Mr Blanchard的模型里，萧条根据相对工资成本的转移在货币区移位。
In Mr Blanchard's model, the slump migrates across the currency zone according to shifts in relative wage costs.
事实上十年来，工资一直以两位数的速率增长，却因劳动生产率的提高而使工资成本实际下降，因而并未对经济增长造成损害。
Indeed, wages have been rising at double-digit rates for a decade with no harmful impact on growth, because higher Labour productivity has actually reduced wage costs (see chart 3).
难以降低的失业率，低生产率增长和单位工资成本快速增加可能是公司在需求降低时维持员工的结果。
Stubbornly low unemployment, weak productivity growth and accelerating unit wage costs may simply be the results of firms' holding on to workers while demand is weak.
难以降低的失业率，低生产率增长和单位工资成本快速增加可能是公司在需求降低时维持员工的结果。
Stubbornly low unemployment, weak productivity growth and accelerating unit wage costs may simply be the results of firms' holding on to workers while demand is weak.
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