Labour Force
The traditionally low-wage differential has increased in recent years as a result of increased flexibility as the role of wage setting at the company level has strengthened somewhat. Still, Swedish unskilled employees are well-paid while well-educated Swedish employees are low-paid compared to those in competitor countries in Western Europe and USA. The average increases in real wages in recent years have been high by historical standards, in large part due to unforeseen price stability. Even so, nominal wages in recent years have been slightly above those in competitor countries. Thus, while private-sector wages rose by an average annual rate of 3.75% from 1998 to 2000 in Sweden, the comparable increase for the EU area was 1.75%. In the year 2000 the total labour force was around 4.4 million people.
Read more about this topic: Economy Of Sweden
Famous quotes containing the words labour and/or force:
“You must labour to acquire that great and uncommon talent of hating with good breeding, and loving with prudence; to make no quarrel irreconcilable by silly and unnecessary indications of anger; and no friendship dangerous, in care it breaks, by a wanton, indiscreet, and unreserved confidence.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)
“If we wish to know the force of human genius, we should read Shakespeare. If we wish to see the insignificance of human learning, we may study his commentators.”
—William Hazlitt (1778–1830)