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20/1/2018  
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EMPLOYMENT
Third quarter of 2017

Annual growth in labour costs at 1.6% in euro area

Job vacancy Eurostat

Hourly labour costs rose by 1.6% in the euro area (EA19) and by 2.1% in the EU28 in the third quarter of 2017, compared with the same quarter of the previous year. In the second quarter of 2017, hourly labour costs increased by 1.8% and 2.3% respectively. These figures are published by Eurostat, the statistical office of the European Union.
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The two main components of labour costs are wages & salaries and non-wage costs. In the euro area, wages & salaries per hour worked grew by 1.6% and the non-wage component by 1.5%, in the third quarter of 2017 compared with the same quarter of the previous year. In the second quarter of 2017, the annual changes were +2.1% and +0.8% respectively. In the EU28, hourly wages & salaries rose by 2.1% and the non-wage component by 2.3% in the third quarter of 2017. In the second quarter of 2017, annual changes were +2.5% and +1.8% respectively.

Breakdown by economic activity In the third quarter of 2017 compared with the same quarter of the previous year, hourly labour costs in the euro area rose by 1.5% in industry, by 2.1% in both construction and services, and by 0.8% in the (mainly) non-business economy. In the EU28, labour costs per hour grew by 2.0% in industry, by 2.5% in construction, by 2.6% in services and by 1.6% in the (mainly) non-business economy. Member States In the third quarter of 2017, the highest annual increases in hourly labour costs for the whole economy were registered in Romania (+16.5%), Hungary (+12.6%) and Bulgaria (+10.7%). A decrease was recorded in Finland (-3.0%) and Portugal (-1.1%).

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Report confirms effectiveness of EU Globalisation Fund
Young people are worse off than older generations in today´s labour market
UAE to train one million young Arab to help the region expand in computer programming
Report shows increased wage growth and swifter transitions from unemployment to employment
European Youth Forum welcomes Council recommendation on apprenticeships

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