Hourly labor costs in the euro area increased by 4.2 percent year-on-year in the second quarter of 2022, picking up from a revised 4.0 percent rise in the previous period. Wages and salaries per hour worked grew by 4.1 percent (vs. 3.7 percent in Q1), and the non-wage component rose by 3.8 percent (vs. 5.5 percent). Across economic activities, growth was the strongest in the industry (2.2 percent), construction (2.8 percent), and services (4.9 percent). source: EUROSTAT
Labour Costs in the Euro Area averaged 100.29 points from 2009 until 2022, reaching an all time high of 119.30 points in the fourth quarter of 2021 and a record low of 83.40 points in the first quarter of 2009. 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 - data, historical chart, forecasts and calendar of releases - was last updated on October of 2022.
Labour Costs in Euro Area is expected to be 113.57 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Labour Costs is projected to trend around 129.40 points in 2023 and 133.29 points in 2024, according to our econometric models.