CEO Comité Européen de l‘Outillage 
European Tool Committee 
Europäisches Werkzeugkomittee

Annual growth in labour costs at 2.2% in euro area

Hourly labour costs rose by 2.2% in the euro area (EA19) and by 2.6% in the EU28 in the second quarter of 2018, compared with the same quarter of the previous year. In the first quarter of 2018, hourly labour costs increased by 2.1% and 2.8% respectively.

 

In the euro area, the cost of wages & salaries per hour worked grew by 1.9% and the non-wage component by 2.9% in the second quarter of 2018 compared with the same quarter of the previous year.

In the first quarter of 2018, the annual changes were +1.8% and +2.8% respectively.

In the EU28, both the costs of hourly wages & salaries and the non-wage component rose by 2.6% in the second quarter of 2018. In the first quarter of 2018, annual changes were +2.7% and +3.1% respectively.

 

Member States

In the second quarter of 2018, the highest annual increases in hourly labour costs for the whole economy were registered in Romania (+15.6%), Latvia (+11.7%) and Hungary (+10.2%), while the lowest annual increases in hourly labour costs were recorded in Luxembourg (+0.6%), Spain (+0.7%) and the Netherlands (+0.9%).

 

 

Breakdown by economic activity

In the second quarter of 2018 compared with the same quarter of the previous year, hourly labour costs in the euro area

  • rose by 2.2% in industry,
  • by 2.7% in construction,
  • by 2.5% in the services and
  • by 1.5% in the (mainly) non-business economy.

In the EU28, labour costs per hour

  • grew by 2.8% in industry,
  • by 4.1% in construction,
  • by 2.7% in services and
  • by 2.2% in the (mainly) non-business economy.

 

Further information:

Labour costs 2nd Quarter 2018

 

Source: Eurostat, https://ec.europa.eu/eurostat/home

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Posted in General Market News, Market Trends & Statistics

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