Fabian Demicoli

Second quarter of 2013 – Annual growth in labour costs slowed to 0.9% in both euro area and EU27

Hourly labour costs in the euro area
(EA17) rose by 0.9% in the year up to the second quarter of 2013, compared with
+1.7% for the first quarter of 2013. In the EU27, the annual rise was also 0.9%
up to the second quarter of 2013, compared with +2.0% in the previous quarter.
These figures are published by Eurostat, the statistical office of the European
Union.

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
1.1% and the non-wage component by 0.1% in the year up to the second quarter of
2013, compared with +1.8% and +1.4% respectively for the previous quarter. In
the EU27, hourly wages & salaries rose by 1.0% and the non-wage component
by 0.3% in the year up to the second quarter of 2013, compared with +2.0% for
both components for the first quarter of 2013.

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