Labour Costs in European Union increased to 117.60 points in the fourth quarter of 2020 from 106.90 points in the third quarter of 2020. source: EUROSTAT

Labour Costs in European Union averaged 98.52 points from 2009 until 2020, reaching an all time high of 117.60 points in the fourth quarter of 2020 and a record low of 83 points in the first quarter of 2009. This page provides - European Union Labour Costs - actual values, historical data, forecast, chart, statistics, economic calendar and news. European Union Labour Costs - values, historical data and charts - was last updated on April of 2021.

Labour Costs in European Union is expected to be 108.36 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in European Union to stand at 119.48 in 12 months time. In the long-term, the European Union Labour Costs is projected to trend around 121.63 points in 2022 and 124.19 points in 2023, according to our econometric models.

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European Union Labour Costs

Actual Previous Highest Lowest Dates Unit Frequency
117.60 106.90 117.60 83.00 2009 - 2020 points Quarterly
2016=100, WDA

European Union Labour Last Previous Highest Lowest Unit
Unemployed Persons 15663.00 15634.00 24134.00 13804.00 Thousand [+]
Long Term Unemployment Rate 2.40 2.00 5.70 2.00 percent [+]
Labour Costs 117.60 106.90 117.60 83.00 points [+]
Unemployment Rate 7.50 7.50 11.50 6.40 percent [+]
Wage Growth 3.70 2.40 5.00 1.00 percent [+]
Youth Unemployment Rate 17.20 17.40 24.90 14.70 percent [+]
Labor Force Participation Rate 57.10 56.10 57.70 55.60 percent [+]
Part Time Employment 34500.70 34338.90 35921.60 31016.50 Thousand [+]
Population 447.32 446.45 447.32 354.53 Million [+]
Productivity 105.00 104.00 105.00 75.50 points [+]
Retirement Age Men 64.28 64.21 64.28 62.57 [+]
Retirement Age Women 63.44 63.31 63.44 61.24 [+]
Employed Persons 191819.00 189695.00 195272.00 170598.00 Thousand [+]
Employment Change 0.90 -2.70 0.90 -2.70 percent [+]
Full Time Employment 157818.20 155669.90 160627.20 146066.10 Thousand [+]


European Union Labour Costs
The Labour Cost Index in the European Union is a short-term indicator showing the development of hourly labour costs incurred by employers, in nominal terms, that is without adjusting for price developments. It is calculated dividing the labour cost in national currency by the number of hours worked. The quarterly changes in hourly employers’ costs are measured for total labour costs and its main components: wages and salaries; and non-wage costs (labour costs other than wages and salaries). Total labour costs (TOT) cover wage and non-wage costs less subsidies. They do not include vocational training costs or other expenditures such as recruitment costs, spending on working clothes, etc.