Hourly labor costs in the Euro Area rose by 5.7 percent year-on-year in the fourth quarter of 2022, accelerating from an upwardly revised 3.7 percent increase in the previous period. Wages and salaries per hour worked expanded by 5.1 percent (vs 3 percent in Q3) and the non-wage component rose by 7.7 percent (vs 5.9 percent), Among economic activities, labor cost growth was the highest in construction (6.9 percent), followed by services (6.2 percent) and industry (4.4 percent). source: EUROSTAT
Labour Costs in Euro Area averaged 100.99 points from 2009 until 2022, reaching an all time high of 126.30 points in the fourth quarter of 2022 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 June of 2023.
Labour Costs in Euro Area is expected to be 122.00 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 130.25 points in 2024 and 133.11 points in 2025, according to our econometric models.