Hourly labor costs in the Euro Area advanced 3.0 percent year-on-year in the fourth quarter of 2020, following an increase of 1.6 percent in the previous three-month period. Wages and salaries per hour worked grew by 3.5 percent and the non-wage component rose by 1.5 percent. source: EUROSTAT
Labour Costs in the Euro Area averaged 98.60 points from 2009 until 2020, reaching an all time high of 116.50 points in the fourth quarter of 2020 and a record low of 83.40 points in the first quarter of 2009. 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 - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Labour Costs in Euro Area is expected to be 106.30 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in Euro Area to stand at 118.25 in 12 months time. In the long-term, the Euro Area Labour Costs is projected to trend around 120.26 points in 2022 and 122.66 points in 2023, according to our econometric models.