Ireland lost competitiveness compared with most other developed economies in the third quarter of last year, according to figures published yesterday by the Organisation for Economic Co-operation and Development.

Irish unit labour costs increased by 1.5 per cent quarter on quarter in the July-September period, the third highest rate of increase among the OECD’s 30 member countries. Across the euro zone, unit labour costs fell by 0.1 per cent in the same period.

The unit labour cost measure incorporates both changes in workers’ remuneration and in their productivity.