Labour Costs in European Union increased to 117.20 points in the second quarter of 2021 from 106.90 points in the first quarter of 2021. source: EUROSTAT

Labour Costs in European Union averaged 99.10 points from 2009 until 2021, reaching an all time high of 117.70 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 November of 2021.

Labour Costs in European Union is expected to be 110.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the European Union Labour Costs is projected to trend around 127.18 points in 2022 and 130.10 points in 2023, according to our econometric models.

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European Union Labour Costs

Related Last Previous Unit Reference
Unemployed Persons 14324.00 14469.00 Thousand Sep/21
Long Term Unemployment Rate 2.90 2.80 percent Jun/21
Labour Costs 117.20 106.90 points Jun/21
Unemployment Rate 6.70 6.90 percent Sep/21
Youth Unemployment Rate 15.90 16.10 percent Sep/21
Wage Growth 0.10 2.40 percent Jun/21
Labor Force Participation Rate 73.60 72.60 percent Jun/21
Full Time Employment 158432.70 155443.40 Thousand Jun/21
Employment Change 0.80 -0.10 percent Jun/21
Employed Persons 192947.00 189515.00 Thousand Jun/21
Part Time Employment 34394.00 33947.40 Thousand Jun/21
Productivity 105.00 105.10 points Jun/21
Population 447.32 446.45 Million Dec/20
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.