Eurostat News Release: Fourth quarter of 2014 Annual growth in labour costs down to 1.1% in euro area, Down to 1.4% in EU28, 19 Μαρτίου 2015.
Hourly labour costs rose by 1.1% in the euro area (EA18) and by 1.4% in the EU28 in the fourth quarter of 2014, compared with the same quarter of the previous year. In the third quarter of 2014, hourly labour costs increased by 1.4% in the euro area and by 1.5% in the EU28. These figures are published by Eurostat, the statistical office of the European Union.
The two main components of labour costs are wages & salaries and non-wage costs. In the euro area, wages & salaries per hour worked grew by 1.0% and the non-wage component by 1.2%, in the fourth quarter of 2014 compared with the same quarter of the previous year. In the third quarter of 2014, the annual changes were +1.4% for both components. In the EU28, hourly wages & salaries rose by 1.4% and the non-wage component by 1.6% for the fourth quarter of 2014. In the third quarter of 2014, annual changes were +1.4% and +1.7% respectively.
