Hourly labour costs in the Euro Area increased 2.6 percent year-on-year in the third quarter of 2019, following an upwardly revised 2.8 percent growth in the previous three-month period. Wages & salaries went up 2.6 percent (vs 2.8 percent in Q2) and non-wage costs rose 2.6 percent (vs 2.9 percent in Q2). By economic activity, hourly labour costs advanced by 2.9 percent in industry, by 2.3 percent in construction, by 2.5 percent in services and by 2.6 percent in the (mainly) nonbusiness economy. Among Eurozone's largest economies, labour cost growth picked up in France (2.8 percent vs 2 percent), Italy (2.4 percent vs 1.3 percent), Spain (3.5 percent vs 2.1 percent), Ireland (7.4 percent vs 3.2 percent) and the Netherlands (4.3 percent vs 2.3 percent). Meanwhile, labour costs advanced at a slower pace in Germany (2.9 percent vs 3.1 percent).
Labour Costs in the Euro Area averaged 97.21 points from 2009 until 2019, reaching an all time high of 110.90 points in the second quarter of 2019 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. source: Eurostat
Labour Costs in Euro Area is expected to be 102.40 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 105.98 in 12 months time. In the long-term, the Euro Area Labour Costs is projected to trend around 111.57 points in 2020, according to our econometric models.