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Industry in Denmark rise by 11% despite high wages: Study Report

Industry in Denmark rise by 11% despite high wages: Study Report

COPENHAGEN: A new study by the labour market organisation Arbejderbevægelsens Erhvervsråd (AE) claims that industry in Denmark has not been this competitive since 1995, concluding that the country can compete with the likes of China, Poland and Germany despite the high level of wages, Ugebrevet A4 reports.

Wage competitiveness – the relationship between companies’ salary expenses  and the value created for the company has risen by 11 percent in the past 20 years. Kristian Weise, the head of the left-of-centre think-tank Cevea, explained that this meant the level of wages was reconcilable with a competitive industrial sector. “There’s a myth that wage levels at export companies are too high,” he said.