Hourly labour costs in the Euro Area went up 2.5 percent year-on-year in the third quarter of 2018, following an upwardly revised 2.3 percent increase in the previous period. This was the steepest annual gain in labour costs since the second quarter of 2011, as wages & salaries rose at a faster 2.4 percent, compared to 2.1 percent in the previous three-month period. Meanwhile, the non-wage component advanced 3 percent, the same pace as in the second quarter. By economic activity, hourly labour costs rose by 2.2 percent in industry, by 2.9 percent in construction and in services and by 2.1 percent in the (mainly) non-business economy. Among Eurozone's largest economies, labour cost growth picked up in Germany (2.7 percent vs 2.1 percent) and Spain (2.8 percent vs 0.8 percent), but slowed in France (2.3 percent vs 2.4 percent) and Italy (2.5 percent vs 3.9 percent). Labour Costs in the Euro Area averaged 100.60 Index Points from 2008 until 2018, reaching an all time high of 114.10 Index Points in the fourth quarter of 2017 and a record low of 85.10 Index Points in the first quarter of 2008.

Labour Costs in Euro Area is expected to be 116.40 Index 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 105.70 in 12 months time. In the long-term, the Euro Area Labour Costs is projected to trend around 120.20 Index Points in 2020, according to our econometric models.

Euro Area Labour Costs
width
height
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Calendar GMT Actual Previous Consensus TEForecast
2018-03-16 10:00 AM Labour Cost Index YoY 1.5% 1.6% 1.8% 1.7%
2018-06-15 09:00 AM Labour Cost Index YoY 2% 1.4% 1.9% 1.6%
2018-09-14 09:00 AM Labour Cost Index YoY 2.2% 2.1% 1.7% 2.2%
2018-12-14 10:00 AM Labour Cost Index YoY 2.5% 2.3% 2.3%
2019-03-19 10:00 AM Labour Cost Index YoY 2.5% 116.4%
2019-06-17 09:00 AM Labour Cost Index YoY 102.2%
2019-09-13 09:00 AM Labour Cost Index YoY 112.5%


Euro Area Labour Last Previous Highest Lowest Unit
Unemployment Rate 7.90 8.00 12.10 7.30 percent [+]
Unemployed Persons 12949.00 13080.00 19193.00 11403.00 Thousand [+]
Employed Persons 158.29 157.97 158.29 117.36 Million [+]
Long Term Unemployment Rate 3.90 4.10 6.30 2.70 percent [+]
Youth Unemployment Rate 16.90 17.10 24.70 14.80 percent [+]
Productivity 105.30 105.20 105.30 82.60 Index Points [+]
Labour Costs 106.40 113.90 114.10 85.10 Index Points [+]
Wage Growth 2.40 2.10 3.40 0.80 percent [+]
Population 340.72 339.88 340.72 260.38 Million [+]
Employment Change 0.20 0.40 0.80 -0.70 percent [+]
Part Time Employment 31590.10 31245.90 31590.10 19769.20 Thousand [+]
Labor Force Participation Rate 57.20 57.00 57.30 55.00 percent [+]
Full Time Employment 115128.40 113849.60 118899.50 107478.10 Thousand [+]
Retirement Age Men 64.36 64.27 64.36 62.24 [+]
Retirement Age Women 63.96 63.86 63.96 61.66 [+]


Euro Area Labour Costs

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 2019.

Actual Previous Highest Lowest Dates Unit Frequency
106.40 113.90 114.10 85.10 2008 - 2018 Index Points Quarterly
2012=100, WDA




Country Last Previous
Australia 102.20 Sep/18
Brazil 105.58 Nov/18
Canada 105.63 Sep/18
China 104.80 Sep/18
Euro Area 106.40 Sep/18
France 108.20 Sep/18
Germany 115.29 Sep/18
Italy 107.00 Jun/18
Mexico 76.20 Oct/18
Netherlands 101.50 Sep/18
Singapore 108.30 Sep/18
South Africa 150.90 Jun/18
South Korea 96.50 Jun/18
Spain 102.40 Jun/18
Turkey 166.66 Sep/18
United Kingdom 104.80 Sep/18
United States 109.05 Sep/18


Related

Latest