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Annual growth in labour costs up to 1.7% in euro area

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Staff writer ▼ | June 18, 2016
Hourly labour costs rose by 1.7% in both the euro area (EA19) and the EU28 in the first quarter of 2016, compared with the same quarter of the previous year.
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Working in Europe   In Q4 hourly labour costs increased by 1.3%
In the fourth quarter of 2015, hourly labour costs increased by 1.3% and 2.0% respectively. These figures are published by Eurostat, the statistical office of the European Union.

The two main components of labour costs are wages & salaries and non-wage costs. In the euro area, wages & salaries per hour worked grew by 1.8% and the non-wage component by 1.5%, in the first quarter of 2016 compared with the same quarter of the previous year.

In the fourth quarter of 2015, the annual changes were +1.5% and +0.7% respectively. In the EU28, hourly wages & salaries rose by 1.7% and the non-wage component by 1.6% for the first quarter of 2016. In the fourth quarter of 2015, annual changes were +2.1% and +1.3% respectively.

In the first quarter of 2016, the highest annual increases in hourly labour costs for the whole economy were registered in Romania (+10.4%), Bulgaria (+7.7%), Estonia (+6.9%), Lithuania (+6.1%) and Latvia (+4.7%).

Decreases were recorded in Italy (-1.5%) and Cyprus (-0.3%).


 

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