§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer if he will publish a table showing the estimated increase in earnings of full-time male manual workers, not affected by absence, in manufacturing industry since September 1992 relative to the increase in the real exchange since sterling fell to DM2.30.
§ Mr. NelsonData on the earnings of full-time male manual workers, not affected by absence, in manufacturing industry are available only on an annual basis. Monthly data on the earnings of all employees in manufacturing industries may be found in table 5.1 of theEmployment Gazette.
Series for various measures of the real exchange rate arc published in "Economic Trends" (table 28). They do not yet extend to the period requested. However, the "Financial Statement and Budget Report" (paragraph 3.44) estimated that United Kingdom unit labour costs in manufacturing were unchanged in the fourth quarter of 1992 compared with a year earlier; while our competitors' unit labour costs in manufacturing rose by 3¼ per cent. Over the same period, the nominal exchange rate (ERI) fell by 12¼ per cent.