Hourly labour costs in the Euro Area increased 2.3 percent year-on-year in the fourth quarter of 2018, following a 2.5 percent rise in the previous period and below market expectations of a 2.7 percent gain. By economic activity, hourly labour costs rose by 1.9 percent in industry, by 2.4 percent in construction, by 2.5 percent in services and by 2.4 percent in the (mainly) non-business economy. Among Eurozone's largest economies, labour cost growth slowed in Germany (2.0 percent vs 2.6 percent), Spain (1.1 percent vs 2.7 percent) and Italy (2.2 percent vs 2.4 percent) but picked up in France (2.5 percent vs 2.2 percent. Labour Costs in the Euro Area averaged 100.95 Index Points from 2008 until 2018, reaching an all time high of 116.60 Index Points in the fourth quarter of 2018 and a record low of 85.10 Index Points in the first quarter of 2008.

Labour Costs in Euro Area is expected to be 103.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in Euro Area to stand at 118.60 in 12 months time. In the long-term, the Euro Area Labour Costs is projected to trend around 120.20 Index Points in 2020, according to our econometric models.

Euro Area Labour Costs
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Calendar GMT Actual Previous Consensus TEForecast
2018-03-16 10:00 AM Labour Cost Index YoY 1.5% 1.6% 1.8% 1.7%
2018-06-15 09:00 AM Labour Cost Index YoY 2% 1.4% 1.9% 1.6%
2018-09-14 09:00 AM Labour Cost Index YoY 2.2% 2.1% 1.7% 2.2%
2018-12-14 10:00 AM Labour Cost Index YoY 2.5% 2.3% 2.3%


Euro Area Labour Last Previous Highest Lowest Unit
Unemployment Rate 7.80 7.80 12.10 7.30 percent [+]
Unemployed Persons 12757.00 12784.00 19197.00 11391.00 Thousand [+]
Employed Persons 158.90 158.29 158.90 117.36 Million [+]
Long Term Unemployment Rate 3.50 3.90 6.30 2.70 percent [+]
Youth Unemployment Rate 16.50 16.50 24.80 14.80 percent [+]
Productivity 105.20 105.30 105.30 82.60 Index Points [+]
Labour Costs 116.60 106.40 116.60 85.10 Index Points [+]
Wage Growth 2.30 2.30 3.40 0.80 percent [+]
Population 340.72 339.88 340.72 260.38 Million [+]
Employment Change 0.30 0.20 0.80 -0.70 percent [+]
Part Time Employment 30964.20 31590.00 31590.00 19769.20 Thousand [+]
Labor Force Participation Rate 57.30 57.20 57.30 55.00 percent [+]
Full Time Employment 116891.60 115128.60 118849.00 107485.60 Thousand [+]
Retirement Age Men 64.36 64.27 64.36 62.24 [+]
Retirement Age Women 63.96 63.86 63.96 61.66 [+]


Euro Area Labour Costs

In the Euro Area, unit labour costs are a measure of total labour costs per unit of output calculated as the ratio of compensation per employee to labour productivity (defined as GDP per person employed). This page provides the latest reported value for - Euro Area Labour Costs - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Labour Costs - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
116.60 106.40 116.60 85.10 2008 - 2018 Index Points Quarterly
2012=100, WDA




Country Last Previous
Australia 103.60 Dec/18
Brazil 116.27 Jan/19
Canada 107.34 Dec/18
China 104.80 Dec/18
Euro Area 116.60 Dec/18
France 108.50 Dec/18
Germany 115.62 Dec/18
Italy 108.70 Dec/18
Mexico 86.40 Jan/19
Netherlands 101.50 Sep/18
Singapore 117.00 Dec/18
South Africa 154.00 Sep/18
South Korea 109.40 Sep/18
Spain 98.40 Sep/18
Turkey 162.85 Dec/18
United Kingdom 104.80 Sep/18
United States 109.78 Dec/18


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