Hourly labour costs rose by 2.0% in the euro area (EA19) and by 2.7% in the EU28 in the first quarter of 2018, compared with the same quarter of the previous year. In the fourth quarter of 2017, hourly labour costs increased by 1.4% and 2.3% 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, the cost of wages & salaries per hour worked grew by 1.8% and the non-wage component by 2.6%, in the first quarter of 2018 compared with the same quarter of the previous year. In the fourth quarter of 2017, the annual changes were +1.6% and +0.8% respectively. In the EU28, the cost of hourly wages & salaries rose by 2.7% and the non-wage component by 2.9% in the first quarter of 2018. In the fourth quarter of 2017, annual changes were +2.4% and +1.9% respectively.
Chosen excerpts by Job Market Monitor. Read the whole story at Annual growth in labour costs at 2.0% in euro area