Wages & salaries in the Euro Area grew by 5.2 percent over a year earlier in the second quarter of 2020, following an upwardly revised 3.9 percent gain in the previous period. It was the largest rise in wages & salaries since at least 2009. The non-wage component went up by 0.8 percent, slowing from a 3.1 percent rise in the prior quarter.

Wage Growth in the Euro Area averaged 2 percent from 2009 until 2020, reaching an all time high of 5.20 percent in the second quarter of 2020 and a record low of 0.80 percent in the third quarter of 2010. This page provides the latest reported value for - Euro Area Wage Growth - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Wage Growth - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Eurostat

Wage Growth in Euro Area is expected to be -2.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Euro Area to stand at 1.10 in 12 months time. In the long-term, the Euro Area Wage Growth is projected to trend around 1.50 percent in 2021 and 1.70 percent in 2022, according to our econometric models.

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Euro Area Wage Growth

Actual Previous Highest Lowest Dates Unit Frequency
5.20 3.90 5.20 0.80 2009 - 2020 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-12-16 10:00 AM Q3 2.6% 2.8% 2.6%
2020-03-17 10:00 AM Q4 2.3% 2.6% 2.4%
2020-06-16 09:00 AM Q1 3.4% 2.4% 2.1%
2020-09-15 09:00 AM Q2 5.2% 3.9% -1%
2020-12-16 10:00 AM Q3 5.2% -2.6%

Euro Area Wage Growth
In the Euro Area, wage growth refers to the change in the total remuneration, in cash or in kind, payable to all persons counted on the payroll (including home workers), in return for work done during the accounting period, regardless of whether it is paid on the basis of working time, output or piecework and whether it is paid regularly.