According to the European Statistical Office (Eurostat), labour costs per hour in the Eurozone (EZ13) increased by 2.7% in nominal figures in the fourth quarter 2007 as compared to the fourth quarter 2006. In the third quarter the annual increase had been slightly smaller (+2.5%). In the EU27 the annual increase of labour costs amounted to 3.5% in the fourth quarter last year.
The two main components of labour costs are wages and salaries as well as ancillary labour costs. In the Eurozone the annual increase of wages and salaries amounted to 2.9% in the fourth quarter of 2007, while ancillar labour costs rose by 2.2%. In the third quarter 2007 growth rates had been 2.6% and 2.3% respectively. In the EU27 wages and salaries increased by 3.7% and ancillary labour costs by 2.9%. In the previous quarter growth rates had been 3.9% and 3.2% respectively.
In industry hourly labour costs increased by 2.8% in the fourth quarter 2007 in the Eurozone. In the construction industry the increase amounted to 3.7% and in the service sector to 2.5%. In the EU27 labour costs increased by 3.7% in industry, by 5.3% in the construction and by 3.2% in the service sector.
- EZ13: Belgium, Germany, Ireland, Greece, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal, Slovenia and Finland.
- EU27: Belgium, Bulgaria, Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and Great Britain.