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Macedonian Wages Among the Highest in the World Business Articles | December 6, 2008
"Invest in Macedonia", implored the government's campaign, because wages here are among the lowest in Europe. Are they? ? The average?salary in Macedonia is c. 200 euros per month and the cost to t...

"Invest in Macedonia", implored the government's campaign, because wages here are among the lowest in Europe. Are they? ? The average?salary in Macedonia is c. 200 euros per month and the cost to the employer - what with wage taxes and?contributions to the pension and health funds thrown in - is c. 320 euros. That translates to c. 4000 euros a year. ? What does the typical Macedonian worker give in return? In other words, what is the value of the goods and services that each and every Macedonian employee produces? ? Easy: simply divide the country's GDP by the size of its workforce. ? According to the IMF Womens Iman Marshall Jersey , Macedonia's GDP this year would be c. 8 billion USD (or 5 billion euros). The World Bank and the CIA largely agree with this estimate. That's 2500 euros per every Macedonian, man, woman, and child (=GDP per capita). ? Of course, only 20% of Macedonia's population are employed, so?GDP per employee is c. 15,000 euros (excluding the 10% of those who do not get paid). ? It looks like a good business: invest 4000 euros a year in your employee and get back 15 Womens Ben Powers Jersey ,000 euros worth of (pretax) product. ? But, how does it compare to other countries? ? Start with the region. ? Albania's and Bosnia-Herzegovina's GDP per capita?are equal to Macedonia's, but rising fast with impressive flows of FDI.?Bulgaria's and Serbia's?are 40% higher. Croatia's is three times Macedonia's. But, since the rate of employment in Croatia is double that of Macedonia,?a Croat worker produces only?1.5?times as much GDP as a Macedonian one.?Every Greek, Czech,?and Slovene?worker is?four times as productive as a Macedonian worker (these countries'?GDP per capita is 8 times Macedonia's) while the Romanians are?almost twice?as plentiful and the Russian workers?beat the Macedonians 1.7:1 (Russia's GDP per capita is 3 times Macedonia's). ? Of course Womens Justice Hill Jersey , such a comparison is unfair. The Czech average salary is 722 euros and in Serbia it touches 400 euros. We should, therefore divide the GDP per capita by?the cost of labor. This is known as GDP unit labor cost. ? Even then, Macedonian workers are spectacularly unproductive. The Macedonian costs 4000 euros a year and produces 15,000 euros of GDP annually. The Serb?costs pretty much the same (c. 5300 euros a year), but produces 20,000 euros of GDP every 12 months. The Czechs, Greeks Womens Miles Boykin Jersey , and Slovene?employees?do even better:?they each?cost?between 9000 euros (Czech Republic) and 20,000 euros (Greece)?a year, but?give in?return 60,000 euros of GDP!? ? Here's a riddle for yo. Cheap Nike Air Max Cheap Nike Air Max Cheap Air Max 90 Wholesale Max Shoes Wholesale Air Max China Cheap Air Max Hot Punch Air Jordan For Sale Air Max 2017 Outlet Cheap Jerseys From China Cheap NHL Jerseys