Euro Area Labour Costs  2008-2017 | Data | Chart | Calendar | Forecast

Hourly labour costs in the Euro Area went up 1.5 percent year-on-year in the third quarter of 2016, following a 1 percent growth in the previous period. Wages and salaries per hour worked increased 1.6 percent, after rising by 0.9 percent in the second quarter, and the non-wage component advanced 1.2 percent, easing from a 1.5 percent gain in the precedent period. By sector, hourly labour costs went up 1.7 percent in industry, 2 percent in construction, 1.2 percent in services and 1.8 percent in the non-business economy. The highest annual increases for the whole economy were registered in Latvia (+7.7 percent) and Lithuania (+6.8 percent), while decreases were recorded in Malta (-2.1 percent) and Italy (-0.5 percent). Labour Costs in the Euro Area averaged 98.85 Index Points from 2008 until 2016, reaching an all time high of 110.50 Index Points in the fourth quarter of 2015 and a record low of 84.80 Index Points in the first quarter of 2008.

Euro Area Labour Costs
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-06-17 09:00 AM Q1 1.7% 1.3% 1.4%
2016-09-16 09:00 AM Q2 1% 1.6% 1.5% 1.8%
2016-12-19 10:00 AM Q3 1.5% 1% 1.3%
2017-03-20 10:00 AM Q4 1.5%
2017-06-16 09:00 AM Q1
2017-09-15 09:00 AM Q2




Euro Area Labour Last Previous Highest Lowest Unit
Unemployment Rate 9.80 9.80 12.10 7.20 percent [+]
Unemployed Persons 15781.00 15795.00 19157.00 11336.00 Thousand [+]
Employed Persons 153.45 153.13 153.45 117.36 Million [+]
Long Term Unemployment Rate 5.00 5.20 6.30 2.70 percent [+]
Youth Unemployment Rate 21.20 20.90 24.60 14.90 percent [+]
Productivity 103.40 103.20 103.40 82.60 Index Points [+]
Labour Costs 102.60 109.30 110.50 84.80 Index Points [+]
Wages 1681.00 1676.00 1681.00 1302.00 EUR/Month [+]
Wage Growth 1.60 0.90 3.40 0.90 percent [+]
Population 338.47 337.47 338.47 260.38 Million [+]
Full Time Employment 112073.10 110334.50 118857.50 107450.40 Thousand [+]
Employment Change 0.20 0.40 0.80 -0.70 percent [+]
Part Time Employment 30948.50 30925.70 30948.50 19769.20 Thousand [+]
Labor Force Participation Rate 57.00 56.80 57.30 55.00 percent [+]
Retirement Age Men 64.63 64.48 64.63 62.47 [+]
Retirement Age Women 63.94 63.77 63.94 61.59 [+]



Euro Area Labour Costs Notes

In the Euro Area, unit labour costs are a measure of total labour costs per unit of output calculated as the ratio of compensation per employee to labour productivity (defined as GDP per person employed). 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 - actual data, historical chart and calendar of releases - was last updated on January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
102.60 109.30 110.50 84.80 2008 - 2016 Index Points Quarterly
2012=100, WDA



Last
Australia 101.30 Sep/16
Austria 108.90 Sep/16
Belgium 108.40 Sep/16
Brazil 136.18 Nov/16
Bulgaria 126.97 Jun/16
Canada 115.82 Sep/16
China 103.30 Sep/16
Croatia 84.60 Sep/16
Cyprus 84.50 Sep/16
Czech Republic 104.73 Sep/16
Denmark 106.42 Sep/16
Estonia 121.32 Sep/16
Euro Area 102.60 Sep/16
European Union 104.60 Sep/16
Finland 112.74 Sep/16
France 106.80 Sep/16
Germany 110.47 Sep/16
Greece 79.70 Sep/16
Hong Kong 135.90 Jun/16
Hungary 107.70 Sep/16
Ireland 79.40 Sep/16
Italy 106.51 Sep/16
Latvia 125.13 Sep/16
Lithuania 125.30 Sep/16
Luxembourg 99.39 Oct/16
Malta 101.22 Sep/16
Mauritius 130.10 Dec/15
Mexico 72.60 Oct/16
Netherlands 115.50 Jun/16
New Zealand 1132.00 Sep/16
Norway 123.20 Sep/16
Poland 106.50 Sep/16
Portugal 94.00 Sep/16
Romania 91.90 Sep/16
Serbia 103.07 Sep/16
Singapore 110.90 Sep/16
Slovakia 96.90 Sep/16
Slovenia 103.20 Sep/16
South Africa 154.20 Jun/16
South Korea 138.70 Sep/16
Spain 101.90 Jun/16
Sweden 125.30 Oct/16
Taiwan 92.37 Oct/16
Thailand 102.66 Sep/16
Turkey 219.04 Sep/16
United Kingdom 102.80 Sep/16
United States 110.70 Sep/16