The 2010 worldwide hourly compensation cost comparison is finally in. So we can see how the wages stack up between 34 different countries. Not surprisingly many European Countries have higher employment costs than the U.S. because of their massive social programs. This of course makes them less competitive in the world market. Surprisingly, in 2010 the U.K. actually had lower total employment costs than the U.S. Of course when it comes to standard of living, Wages and Social programs are only half of the equation. The other half of course is the cost of living. A low cost of living country doesn’t need the same wages in order to have the same standard of living.
Let’s look at the wage levels in various countries [Read more…] about World-Wide Hourly Compensation Comparison