Categories: Economy

Labor cost per hour rises in Europe

The hourly labor cost in the euro zone rose 5.7 percent in the last quarter of last year.

The European Statistical Office (Eurostat) has published hourly labor cost data for the fourth quarter of 2022 in EU countries.

According to the data, hourly labor costs in the euro area rose 5.7 percent on-year in the fourth quarter.

INCREASED BY 4.7 PERCENT IN THE EU

In 27 EU member countries, hourly labor cost increased by 5.8 percent in the last quarter of last year compared to the same period in 2021. Hourly labor costs increased by 4.1 percent in the EU and 3.7 percent in the euro area in the third quarter.

Among EU countries, labor costs increased by 16.1% in Bulgaria, 15.5% in Lithuania and 12.4% in Hungary in the last quarter. These costs increased by 6.3 percent in Germany, 5.2 percent in France, 5.5 percent in Italy and 3.6 percent in Spain. (AA)

Source: Sozcu

Andrew

Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.