Eurostat/Annual growth in labour costs at 1.5% in euro area/16 June 2017
Hourly labour costs rose by 1.5% in the euro area (EA19) and by 1.7% in the EU28 in the first quarter of 2017, compared with the same quarter of the previous year. In the fourth quarter of 2016, hourly labour costs increased also by 1.5% and 1.7% respectively. 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 1.4% and the non-wage component by 1.6%, in the first quarter of 2017 compared with the same quarter of the previous year. In the fourth quarter of 2016, the annual changes were +1.6% and +1.4% respectively. In the EU28, hourly wages & salaries rose by 1.6% and the non-wage component by 1.8% in the first quarter of 2017. In the fourth quarter of 2016, annual changes were +1.8% and +1.5% respectively.
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