Costs per unitofLabour are increasing at only about half the rateofrealwages, reckonsjoseRoberto mendoncaDEBarros, a consultant and former finance official.
Companies are becoming more efficient, and not just by sacking workers and buying in their needs instead: a study to be released soon shows the overall productivity of capital and labour together rising at 5% a year, says JoseRoberto Mendonca de Barros, the economic-policy secretary.
Guy Demel put the hosts ahead after just three minutes but Nelson Valdez leveled 60 seconds later before Ze Roberto and Jose Paolo Guerrero put Hamburg firmly in control.