Labour Costs in European Union decreased to 115.40 points in the third quarter of 2022 from 121.10 points in the second quarter of 2022. source: EUROSTAT

Labour Costs in European Union averaged 100.69 points from 2009 until 2022, reaching an all time high of 121.10 points in the second quarter of 2022 and a record low of 83.00 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 January of 2023.

Labour Costs in European Union is expected to be 114.19 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 119.71 points in 2024 and 122.82 points in 2025, according to our econometric models.

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European Union Labour Costs

Related Last Previous Unit Reference
Unemployed Persons 12950.00 12940.00 Thousand Nov 2022
Long Term Unemployment Rate 2.30 2.40 percent Sep 2022
Labour Costs 115.40 121.10 points Sep 2022
Unemployment Rate 6.00 6.00 percent Nov 2022
Youth Unemployment Rate 15.10 15.00 percent Nov 2022
Full Time Employment 163672.10 162481.40 Thousand Sep 2022
Wage Growth 2.80 3.60 percent Sep 2022
Employment Change 0.20 0.30 percent Sep 2022
Employed Persons 198229.00 197616.00 Thousand Sep 2022
Labor Force Participation Rate 74.80 74.60 percent Sep 2022
Part Time Employment 34426.00 35009.00 Thousand Sep 2022
Productivity 106.72 106.10 points Sep 2022
Population 447.00 447.32 Million Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
115.40 121.10 121.10 83.00 2009 - 2022 points Quarterly
2016=100, WDA