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Eurozone labor cost growth eases in Q2

Staff Writer |
Eurozone hourly labor cost grew at a slower pace in the second quarter, Eurostat reported.

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Hourly labor costs increased 1 percent year-on-year, slower than the 1.6 percent growth registered a quarter ago.

The two main components of labor costs were wages and salaries and non-wage costs. Wages and salaries per hour rose 0.9 percent and the non-wage climbed 1.4 percent.

Hourly labor costs climbed 0.9 percent in industry and 1.5 percent in construction, and 0.9 percent in services.

In the EU28, labor cost growth eased to 1.4 percent from 1.6 percent. The highest annual increases in hourly labor costs for the whole economy were registered in Romania, Latvia and Bulgaria.

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