Hourly labour costs in the Euro Area increased 1.6 percent year-on-year in the third quarter of 2020, following a downwardly revised 3.6 percent increase in the previous three-month period. Wages and salaries per hour worked grew by 2.2 percent and the non-wage component dropped by 0.4 percent. source: EUROSTAT
Labour Costs in the Euro Area averaged 98.21 points from 2009 until 2020, reaching an all time high of 115 points in the second quarter of 2020 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 February of 2021.
Labour Costs in Euro Area is expected to be 114.33 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 106.26 in 12 months time. In the long-term, the Euro Area Labour Costs is projected to trend around 116.05 points in 2021 and 118.02 points in 2022, according to our econometric models.