Hourly labor costs in the euro area increased on average by 2.7% in comparison with the third quarter of 2010. Across the whole European Union (EU27), hourly labor costs increased by 2.6%. In Q2 2011, it was 3.3% in the euro area and 3.2% in the EU27. Hourly wages & salaries strengthened by 2.6% both in the euro area and th EU27. The non-wage component rose by 3.2%.
The largest annual increase of hourly labor costs was recorded in Bulgaria (+9.8%), Romania (+7.9%) and the Slovak Republic (+7.2%) and the smallest in Cyprus (+1.4), Portugal ( +0.8) and Ireland (-1.1%). In the Czech Republic it was +5.2%.
In the euro area, the hourly labor costs rose by 2.9% in industry, by 2.4% in construction and by 2.6% in services. Throughout the EU27, the hourly price of labor roseby 2.9% in the industrial sector, by 2.2% in construction and by 2.6% in services.
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