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Europe – Annual labour costs slow to +0.9%

16 September 2013

Hourly labour costs in the Eurozone rose by +0.9% in the year up to the second quarter of 2013, compared with +1.7% for the first quarter of 2013. In the European Union (excluding Croatia), the annual rise was also +0.9% up to the second quarter of 2013, compared with +2% in the previous quarter. These figures are published by Eurostat, the statistical body of the European Union.

The two main components of labour costs are wages & salaries and non-wage costs. In the Eurozone, wages & salaries per hour worked grew by +1.1% and the non-wage component by +0.1% in the year up to the second quarter, compared with +1.8% and +1.4% respectively for the previous quarter. In the European Union, hourly wages & salaries rose by +1% and the non-wage component by +0.3% in the year up to the second quarter of 2013, compared with +2% for both components during the first quarter of 2013.

In the Eurozone, hourly labour costs rose by +1.8% in industry, +0.7% in construction, +0.8% in services and +0.3% in the mainly non-business economy in the year up to the second quarter of 2013. In the European Union, labour costs per hour grew by +1.7% in industry, +0.4% in construction, +0.9% in services, and +0.4% in the mainly non-business economy.

Among the Member States for which data is available for the second quarter of 2013, the highest annual increases in hourly labour costs for the whole economy were registered in Estonia (+7.7%), Lithuania (+6.5%), and Romania (+6.0%). Decreases were recorded in Slovenia (-5.9%), Cyprus (-4.6%), Croatia (-0.6%) and Spain (-0.3%).

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