Hourly labor costs in the Euro Area increased 1.5 percent year-on-year in the first quarter of 2021, easing from a downwardly revised 2.8 percent rise in the previous three-month period. It was the smallest increase in labour costs since the last quarter of 2016, as wages and salaries per hour worked grew by 2.2 percent while the non-wage component decreased by 0.9 percent. source: EUROSTAT
Labour Costs in the Euro Area averaged 98.73 points from 2009 until 2021, reaching an all time high of 116.40 points in the fourth 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 July of 2021.
Labour Costs in Euro Area is expected to be 119.87 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 109.52 in 12 months time. In the long-term, the Euro Area Labour Costs is projected to trend around 125.17 points in 2022 and 127.67 points in 2023, according to our econometric models.