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Business

German Labor Costs Grow Faster Than Productivity

Labor costs in Germany have risen more rapidly in recent years than productivity, the Federal Statistical Office reported on Wednesday. The cost to companies for benefits and other non-wage expenses averaged 43,700 euros ($43,400) per full-time employee in the manufacturing, banking, insurance and retail sectors, the agency said. Non-wage expenses have increased by 7.1 percent since the Statistical Office last surveyed companies in 1996. However, during the same period, productivity grew by only 6 percent.