Our measure of the real exchange rate, which we will regularly update,offers a more direct measure of competitiveness by looking instead at unitlabour costs: the price of labour per widget.

我们计算实际汇率采用了一种我们会经常更新的办法，这种方法提供了一个更为直接的衡量竞争力的方式，即，通过关注单位劳动力成本的方式来衡量：每一单位劳动工具下劳动力的价格。

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Cheaper labour costs are also encouraging foreign direct investment, which was up a quarter in 2007.

ECONOMIST: Exports and the economy

For the majority of German workers, companies' growing willingness to shift production to wherever labour and capital costs are cheapest is a direct threat to their jobs.

ECONOMIST: Germany's economy