Annual growth in labour costs down to 1.1% in euro area

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The FINANCIAL — Hourly labour costs rose by 1.1% in the euro area (EA19) and by 1.8% in the EU28 in the third quarter of 2015, compared with the same quarter of the previous year. In the second quarter of 2015, hourly labour costs increased by 1.6% in the euro area and by 1.9% in the EU28. 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 1.4% and the non-wage component by 0.1%, in the third quarter of 2015 compared with the same quarter of the previous year. In the second quarter of 2015, the annual changes were +2.0% for wages & salaries and +0.3% for non-wage costs. In the EU28, hourly wages & salaries rose by 2.0% and the non-wage component by 1.1% for the third quarter of 2015. In the second quarter of 2015, annual changes were +2.2% and +1.1% respectively.

Breakdown by economic activity

In the third quarter of 2015 compared with the same quarter of the previous year, hourly labour costs in the euro area rose by 1.3% in industry, by 0.8% in construction, by 1.2% in services and by 0.8% in the (mainly) non- business economy. In the EU28, labour costs per hour grew by 1.6% in industry, by 2.3% in construction, by 2.0% in services and by 1.5% in the (mainly) non-business economy in the third quarter.

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Member States

In the third quarter of 2015, the highest annual increases in hourly labour costs for the whole economy were registered in Latvia and Bulgaria (both +7.4%), Romania (+7.3%), Estonia (+6.1%) and Lithuania (+5.7%). Decreases were recorded in Portugal (-2.8%), Slovenia (-1.5%), Cyprus (-0.5%), Italy and Luxembourg (both -0.4%).

 

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