Daily NewsView All News
The latest data published by the Statistical Office of the European Union (Eurostat) shows that hourly labour costs in the 16 countries, which share the Euro as a common currency (EA16)* rose by +2.1% in the year up to the first quarter of 2010, compared with +1.7% for the previous quarter. In all 27 countries of the European Union (EU27)**, the annual rise was +2.2% up to the first quarter of 2010, compared with +2.0% for the previous quarter.
The two main components of labour costs are wages & salaries and non-wage costs. In EA16, wages & salaries per hour worked grew by +2.0% in the year up to the first quarter of 2010, and the non-wage component by +2.1%, compared with +1.6% and +2.0% respectively for the fourth quarter of 2009. In EU27, hourly wages & salaries rose by +2.3% and the non-wage component by +1.9% in the year up to the first quarter of 2010, compared with +1.9% and +2.5% respectively for the previous quarter.
The breakdown by economic activity shows that in EA16 hourly labour costs rose by +1.8% in industry, +2.1% in construction and +2.2% in services in the year up to the first quarter of 2010. In EU27, labour costs per hour grew by +1.8% in industry, +1.4% in construction and +2.5% in services.
*EA16 consists of Belgium, Germany, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
**EU27 includes Belgium (BE), Bulgaria (BG), the Czech Republic (CZ), Denmark (DK), Germany (DE), Estonia (EE), Ireland (IE), Greece (EL), Spain (ES), France (FR), Italy (IT), Cyprus (CY), Latvia (LV), Lithuania (LT), Luxembourg (LU), Hungary (HU), Malta (MT), the Netherlands (NL), Austria (AT), Poland (PL), Portugal (PT), Romania (RO), Slovenia (SI), Slovakia (SK), Finland (FI), Sweden (SE) and the United Kingdom (UK).