Hourly labour costs in the Euro Area increased 2.4 percent year-on-year in the first quarter of 2019, following a 2.3 growth in the previous three-month period and missing market expectations of 2.6 percent. By economic activity, hourly labour costs rose by 2.5 percent in industry, by 2.3 percent in construction, by 2.4 percent in services and by 2.5 percent in the (mainly) nonbusiness economy. Among Eurozone's largest economies, labour cost growth picked up in Germany (2.5 percent vs 2.0 percent), France (2.7 percent vs 2.5 percent), Italy (2.6 percent vs 2.1 percent) and Spain (2.5 percent vs 1.2 percent). By contrast, labour costs advanced at a softer pace in Ireland (2.0 percent vs 2.6 percent) and the Netherlands (1.5 percent vs 2.8 percent), while fell in Greece (-0.2 percent vs 2.5 percent). Labour Costs in the Euro Area averaged 96.69 Index Points from 2009 until 2019, reaching an all time high of 110.60 Index Points in the fourth quarter of 2018 and a record low of 83.30 Index Points in the first quarter of 2009.

Labour Costs in Euro Area is expected to be 116.37 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 119.52 in 12 months time. In the long-term, the Euro Area Labour Costs is projected to trend around 125.44 Index Points in 2020, according to our econometric models.

Euro Area Labour Costs
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-14 09:00 AM Labour Cost Index YoY Q2 2.2% 2.1% 1.7% 2.2%
2018-12-14 10:00 AM Labour Cost Index YoY Q3 2.5% 2.3% 2.3%
2019-03-19 10:00 AM Labour Cost Index YoY Q4 2.3% 2.5% 2.7% 2.6%
2019-06-17 09:00 AM Labour Cost Index YoY Q1 2.4% 2.3% 2.6% 2.4%


Euro Area Labour Last Previous Highest Lowest Unit
Unemployment Rate 7.50 7.60 12.10 7.30 percent [+]
Unemployed Persons 12263.00 12443.00 19197.00 11391.00 Thousand [+]
Employed Persons 159.53 158.98 159.53 117.36 Million [+]
Long Term Unemployment Rate 3.50 3.50 6.30 2.70 percent [+]
Youth Unemployment Rate 15.70 15.80 24.80 14.80 percent [+]
Productivity 105.10 105.20 105.30 82.60 Index Points [+]
Labour Costs 99.60 110.60 110.60 83.30 Index Points [+]
Wage Growth 2.50 2.30 3.40 0.80 percent [+]
Population 340.72 339.88 340.72 260.38 Million [+]
Employment Change 0.30 0.30 0.80 -0.70 percent [+]
Part Time Employment 31594.70 31393.20 31594.70 19769.20 Thousand [+]
Labor Force Participation Rate 57.40 57.30 57.40 55.00 percent [+]
Full Time Employment 115273.20 116162.30 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 July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
99.60 110.60 110.60 83.30 2009 - 2019 Index Points Quarterly
2016=100, WDA




Country Last Previous
Australia 103.80 Mar/19
Brazil 116.60 May/19
Canada 108.49 Mar/19
China 104.30 Jun/19
Euro Area 99.60 Mar/19
France 107.50 Mar/19
Germany 116.69 Mar/19
Italy 111.20 Mar/19
Mexico 85.70 Feb/19
Netherlands 105.20 Mar/19
Singapore 110.80 Mar/19
South Africa 156.20 Dec/18
South Korea 103.10 Dec/18
Spain 100.40 Mar/19
Turkey 188.85 Mar/19
United Kingdom 105.50 Mar/19
United States 108.71 Mar/19


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