What happens in the labor markets?
Table 9: Change in employment, unemployment rates and real wages, tariff scenario Country Australia
Percentage rise in employment
Change in unemployment rate in percentage points
Percentage change in real wages
–0.12
0.11
–0.56
Austria
0.07
–0.07
0.32
Belgium
0.02
–0.02
0.09
Canada
–0.15
0.15
–0.71
Czech Republic
0.11
–0.10
0.53
Denmark
0.13
–0.12
0.63
Finland
0.21
–0.19
0.97
France
0.12
–0.11
0.54
Germany
0.12
–0.11
0.54
Greece
0.20
–0.17
0.93
Hungary
0.15
–0.13
0.70
Iceland
–0.12
0.11
–0.56
Ireland
0.24
–0.21
1.14
Italy
0.16
–0.15
0.72
Japan
–0.03
0.03
–0.14
Netherlands
0.09
–0.08
0.40
New Zealand
–0.08
0.07
–0.37
Norway
–0.12
0.12
–0.55
Poland
0.15
–0.13
0.69
Portugal
0.22
–0.19
1.02
Slovakia
0.14
–0.12
0.66
–0.03
0.03
–0.15
0.20
–0.16
0.92
South Korea Spain Sweden
0.18
–0.16
0.85
Switzerland
–0.11
0.10
–0.50
Turkey
–0.11
0.10
–0.51
United Kingdom
0.37
–0.34
1.72
United States
0.20
–0.18
0.93
Average (GDP–weighted)
0.13
–0.11
0.59
Source: Calculations: ifo Institut
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