Hourly labour costs rose by 2.6% in the euro area (EA19) and by 3.1% in the EU28 in the third quarter of 2019, compared with the same quarter of the previous year. In the second quarter of 2019, hourly labour costs increased by 2.8% and 3.2% 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 both wages & salaries per hour worked and the non-wage component grew by 2.6% in the third quarter of 2019 compared with the same quarter of the previous year. In the second quarter of 2019, the annual changes were +2.8% and +2.9% respectively. In the EU28, the costs of hourly wages & salaries rose by 3.2% and the non-wage component rose by 2.7% in the third quarter of 2019. In the second quarter of 2019, annual changes were +3.3% and +3.0% respectively.
Chosen excerpts by Job Market Monitor. Read the whole story at Annual growth in labour costs at 2.6% in euro area