In the euro area, hourly wages and salaries rose 3 per cent, while non-wage costs climbed 4 per cent. Across the European Union (EU), wage costs increased 3.5 per cent and the non-wage component advanced 4.2 per cent, Eurostat said in a press release.
By economic activity, euro area labour costs rose 3.1 per cent in the mainly non-business economy and 3.3 per cent in the business economy, including a 3.3 per cent increase in industry.
In the EU, labour costs rose 3.4 per cent in the non-business economy and 3.8 per cent in the business economy, with industry recording a 3.7 per cent increase.
At country level, Bulgaria recorded the highest annual growth in hourly wage costs at 12.4 per cent, followed by Lithuania, Croatia and Hungary. The weakest increases were seen in France, Slovenia, Spain, Austria and Italy, while Malta registered a decline of 1.4 per cent.
ALCHEMPro News Desk (SG)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!