DIFFERENCES IN LABOUR COSTS IN AGRICULTURAL HOLDINGS IN THE CZECH REPUBLIC IN 2009-2013

Does regional development in the agricultural sector for joint-stock companies comes along with the reduction of differences in labor costs in the specific region among agricultural holdings? The aim of this paper is to find out the labor costs to output ratio and to assess the correlation of the calculated ratios of labor costs and capital employed to output for joint-stock companies across the Czech regions using the data from 2009 to 2013. The correlation coefficients reveal the coincidence of the direct connection between the labor costs and the value of capital employed per unit of output for the region of Prague and Karlovy Vary. The values of the mentioned indicators for these two regions are also mostly negatively correlated to the rest of the regions.