Labour Costs in EU (QII, 2019) – Rose by 3.1%

Hourly labour costs rose by 2.7% in the euro area (EA19) and by 3.1% in the EU28 in the second quarter of 2019, compared with the same quarter of the previous year. In the first quarter of 2019, hourly labour costs increased by 2.5% and 2.7% 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 2.7% and the non-wage component by 2.9% in the second quarter of 2019 compared with the same quarter of the previous year. In the first quarter of 2019, the annual changes were +2.7% and +2.1% respectively. In the EU28, the costs of hourly wages & salaries rose by 3.1% and the non-wage component rose by 3.0% in the second quarter of 2019. In the first quarter of 2019, annual changes were +2.9% and +2.1% respectively.

Chosen excerpts by Job Market Monitor. Read the whole story at Annual growth in labour costs at 2.7% in euro area