Labour Costs in European Union increased to 120.30 points in the fourth quarter of 2021 from 110 points in the third quarter of 2021. source: EUROSTAT

Labour Costs in European Union averaged 99.72 points from 2009 until 2021, reaching an all time high of 120.30 points in the fourth quarter of 2021 and a record low of 83 points in the first quarter of 2009. This page provides - European Union Labour Costs - actual values, historical data, forecast, chart, statistics, economic calendar and news. European Union Labour Costs - values, historical data and charts - was last updated on June of 2022.

Labour Costs in European Union is expected to be 111.93 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the European Union Labour Costs is projected to trend around 127.01 points in 2023 and 129.67 points in 2024, according to our econometric models.

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European Union Labour Costs

Related Last Previous Unit Reference
Unemployed Persons 13264.00 13374.00 Thousand Apr 2022
Long Term Unemployment Rate 2.80 2.80 percent Sep 2021
Labour Costs 120.30 110.00 points Dec 2021
Unemployment Rate 6.20 6.20 percent Apr 2022
Youth Unemployment Rate 13.90 13.90 percent Apr 2022
Employment Change 0.40 0.40 percent Mar 2022
Productivity 105.21 105.38 points Mar 2022
Wage Growth 2.00 2.80 percent Dec 2021
Part Time Employment 34716.60 34187.10 Thousand Dec 2021
Full Time Employment 160668.50 161051.70 Thousand Dec 2021
Employed Persons 195503.00 195349.00 Thousand Dec 2021
Labor Force Participation Rate 74.30 73.60 percent Sep 2021
Population 447.32 446.45 Million Dec 2020

European Union Labour Costs
The Labour Cost Index in the European Union is a short-term indicator showing the development of hourly labour costs incurred by employers, in nominal terms, that is without adjusting for price developments. It is calculated dividing the labour cost in national currency by the number of hours worked. The quarterly changes in hourly employers’ costs are measured for total labour costs and its main components: wages and salaries; and non-wage costs (labour costs other than wages and salaries). Total labour costs (TOT) cover wage and non-wage costs less subsidies. They do not include vocational training costs or other expenditures such as recruitment costs, spending on working clothes, etc.
Actual Previous Highest Lowest Dates Unit Frequency
120.30 110.00 120.30 83.00 2009 - 2021 points Quarterly
2016=100, WDA