London is the fifth most expensive city in the world inwhich to live and work, but its workers are notamong the top 10 average earners globally.

在全球生活成本最昂貴城市的排名中，倫敦位列第五，但倫敦勞動者的平均收入卻未能在全球躋身前十位之列。

The findings, from UBS, the Swiss bank, show that the widely held belief among Londoners thatthe city is painfully pricey to live in has some basis in reality.

瑞銀(UBS)的研究結果表明，倫敦人對於倫敦是一個生活成本高昂得令人痛苦的城市的普遍看法，是有一些現實依據的。

“This suggests London isn’t a highly priced labour market in terms of the purchasing power ofgoods [and] labour remains quite competitive from a business perspective,” said Bill O’Neill,head of the UK investment office at UBS Wealth Management.

“這表明，就商品購買力而言，倫敦不是一個高價的勞動力市場，而從商業角度來說，其勞動市場的競爭依然相當激烈，”瑞銀財富管理(UBS Wealth Management)英國投資辦事處主管比爾攠尼爾(Bill O’Neill)表示。

Excluding rent, London is the sixth most expensive city in the world, and workers’ grossearnings are, on average, the 13th highest.

剔除房租，倫敦是全球生活成本第六昂貴的城市，而倫敦勞動者的平均總收入則在全球排名第十三位。

UBS compared prices, wages and earners’ purchasing power in 71 cities worldwide in nominalUS$ terms. It found that, based on the prices for a standardised basket of 122 goods andservices, Zurich, Geneva and New York City were the most expensive cities in the world. Thecost of living was lowest in eastern Europe, with Kiev the cheapest city in which to live andwork.

瑞銀按名義美元比較了71個城市的物價、薪資和勞動者購買力。根據由122種商品和服務組成的標準化籃子的價格，瑞銀發現蘇黎世、日內瓦和紐約市是世界上生活成本最昂貴的前三個城市。東歐的生活成本最低，其中基輔是全球生活成本最低的城市。

UBS also found that, since the financial crisis, there had been marked divergence in relativelabour costs within the eurozone. Since 2009, gross hourly wages have fallen by 2 per cent inDublin, by 15 per cent in Lisbon, but had risen 11 per cent in Milan.

瑞銀還發現，在金融危機之後，歐元區各國的相對勞動力成本出現了明顯分化。2009年後，都柏林的總時薪降低了2%，裏斯本降低了15%，而米蘭則上升了11%。

Workers in Zurich, Geneva, and Luxembourg earn the highest gross wages. In Nairobi, Jakartaand Kiev, workers receive only about a 20th of average gross earnings in Zurich. Salaries wentfurthest in Luxembourg, Zurich and Geneva, whereas those in Nairobi and Jakarta had thelowest purchasing power.

蘇黎世、日內瓦和盧森堡的勞動者的總薪資最高。內羅畢、雅加達和基輔的勞動者平均收入僅為蘇黎世的5%左右。盧森堡、蘇黎世和日內瓦的購買力最高，而內羅畢和雅加達的購買力則最低。

It would take workers in London more than 41 hours to earn enough money to buy an iPhone 6,compared with less than 30 hours in US and Swiss cities. A Big Mac costs almost three hours ofaverage earnings in Nairobi, compared with just nine minutes in Hong Kong — the lowest —and 12 minutes in London.

倫敦勞動者需要工作逾41個小時才能賺到足夠買一部iPhone6的錢，而美國和瑞士城市的勞動者隻需不到30個小時的工作時間。在內羅畢，買一個巨無霸幾乎需要三個小時的平均收入，而在香港僅需9分鍾——香港的這一數值是全球最低的——在倫敦則需要12分鍾。

But the affordability of a Big Mac in Hong Kong came at a price. People in Hong Kong work thelongest hours, four more a day than workers in Paris, who spend the fewest hours at work.

但香港人對巨無霸的購買力是有代價的。香港勞動者的工作時長是全球最長的，平均每個工作日比巴黎勞動者多4個小時，後者是工作時長最短的。

On average people worked over 2,000 hours a year in 19 major cities, most of them in Asia andthe Middle East.

有19個城市——其中大多數位於亞洲和中東——的勞動者平均每年工作時長超過2000個小時。

The shortest work schedule and highest number of days of paid vacation are enjoyed byworkers in western Europe.

西歐勞動者則享受最短的工作時長和最多的帶薪休假天數。

The UBS study of wages and prices has been running since 1971. The last one, in 2012, foundthat London was the 10th priciest city in the world, and wages were the 19th highest.

瑞銀對薪資和物價的研究從1971年持續至今。上一次瑞銀發布研究結果是在2012年，當時倫敦在全球城市生活成本排名中位列第十，其薪資水平則排在第十九位。