DEVELOPMENT OF REAL UNIT WAGE COSTS ON THE MACRO- AND MEZO-LEVEL OF THE CZECH REPUBLIC

Abstract

: The aim of the paper is to analyse the development and the level of cost inflation pressures originating from the labour market in terms of the different levels of the Czech Republic. At first, we will mention several definitions of unit labour costs and the reasons for their examination and monitoring. Then we will select the concept of the nominal and real unit wage costs and data for the macro-level and mezzo-level in the Czech Republic. It is also evaluated the development of real unit wage costs indicator on individual levels of the Czech Republic and extent the wage inflation potential on them. Finally, we localize the first clues about the negative impact of wages on prices on the mezzo-level, which can be used for creating the prediction of the national economy in the near future.