The scissors in labor costs in EU countries is widened
The European Statistical Office (Eurostat) has published data on hourly labor costs in 2022 in 27 EU member countries.
According to the data, labor costs increased in 2022 compared to the previous year.
Last year, the EU average hourly labor cost was €30.5 and the Eurozone average was €34.3. These costs were determined at 29 euros in the EU and 32.8 euros in the euro zone in 2021.
It is noteworthy that there is a large difference in labor costs between EU member countries. The labor cost per hour in Europe ranged between 8.2 Euros and 50.7 Euros depending on the countries.
The highest labor cost among EU countries was in Luxembourg. The labor cost per hour is 50.7 euros in Luxembourg, 46.8 euros in Denmark, 43.5 euros in Belgium, 40.8 euros in France, 40.5 euros in the Netherlands, 40.1 euros in Sweden, 39 .5 euros in Germany and 39 euros in Austria.
Last year, the lowest hourly labor cost in the EU was determined in Bulgaria at €8.2, Romania at €9.5, Hungary at €10.7 and Croatia at €12.1. (AA)
Source: Sozcu
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.
