Eurozone Arbeitskosten

Hourly labor costs in the Euro Area increased by 4.6% year-on-year in the third quarter of 2024, slowing from an upwardly revised 5% rise in the previous quarter. Wages and salaries per hour worked grew by 4.5% annually, down from 4.9% in Q2, while the non-wage component saw a 4.9% rise (vs 5.6%). Across the currency bloc’s key industrial sectors, labor costs increased by 5.0% in construction, 4.6% in industry, and 4.6% in services.