Significant gap between labour costs in the EU

By: Together Abroad 31-03-2015 2:49 PM
Categories: Business news,

In 2014, average hourly labour costs were estimated to be €24.6 in the European Union (EU). This was released by the statistical office of the European Union, Eurostat, on Monday 30th March 2015. 

According to Eurostat, this average in labour costs masks a significant gap between EU Member States. The lowest hourly labour costs were recorded in Bulgaria (€3.8) and Romania (€ 4.6) while the highest were found in Denmark (€40.3) and Belgium (€39.1). In The Netherlands, the hourly costs rose by €0.5 to €24.6 in 2014.

Labour costs consist of wages and salaries as well as non-wage costs such as the employers’ social contribution. Within the business economy of the EU, hourly labour costs were the highest in industry (€25.5), followed by services sector (€24.3)and construction (€22).
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