European Union Labour Costs

Labour Costs in European Union increased to 117.20 points in the second quarter of 2021 from 106.90 points in the first quarter of 2021. Labour Costs in European Union averaged 99.10 points from 2009 until 2021, reaching an all time high of 117.70 points in the fourth quarter of 2020 and a record low of 83 points in the first quarter of 2009. 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. This page provides — European Union Labour Costs — actual values, historical data, forecast, chart, statistics, economic calendar and news.

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