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Financial News: Eurozone Labor Cost Growth Accelerates In Q2

Eurozone Labor Cost Growth Accelerates In Q2

09/15/2017 - 05:49:00 (RTTNews)

(RTTNews) - Eurozone labor costs annual growth accelerated in the second quarter after easing in the previous three months, figures from Eurostat showed Friday.

Hourly labor costs for the whole economy grew 1.8 percent year-on-year in the second quarter, faster than the 1.4 percent rise in the prior month. During the fourth quarter last year, the rate of growth was 1.6 percent.

The wages and salaries component rose 2.0 percent in the June quarter after a 1.3 percent climb in the previous three months. Non-wage costs climbed 0.8 percent following a 1.6 percent increase.

EU28 labor costs grew 2.2 percent annually in the second quarter versus 1.6 percent rise in the previous quarter.

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