American "Competitiveness" In a Eurozone Context

For fun, I threw the unit labor costs for the United States onto the graph I made for the previous post, to see how American labor costs fare in comparison to the European situation. The results are pleasantly suprising: American labor costs are well below European labor costs.

Further evidence that the United States does not have a "competitiveness" problem, and that our labor and capital markets price inputs appropriatley to compete with the best exporters in the world.

In insolation, here's the US vs. Germany directly.