In 2024, the average hourly labor costs across the economy was estimated at EUR 33.5 in the EU and 37.3 euros in the euro area, for 31.9 euros and 35.7 euros, respectively, in 2023, according to Eurostat data released today. The average hourly labor costs have significant differences between EU countries, with the lowest hourly labor costs being recorded in Bulgaria (10.6 euros), Romania (12.5 euros) and Hungary (14.1 euros). This is followed by Latvia (15.1 euros), Lithuania (16.3 euros) and Greece (16.7 euros). In contrast, the highest hourly labor costs are recorded in Luxembourg (55.2 euros), Denmark (50.1 euros), Belgium (48.2 euros) and the Netherlands (45.2 euros). The average hourly labor costs in the industry was 33.9 euros in the EU and 39.8 euros in the euro area, while in the construction sector, it was 30.0 euros and 33.4 euros respectively. In services, hourly labor costs ranged between 33.3 euros in the EU and 36.4 euros […]
Source: News Beast
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