Name: European Union Labour Costs
Creator: TRADING ECONOMICS
License: https://creativecommons.org/licenses/by/4.0/
Keywords: European Union,Labour Costs,data,chart,actual,historical,values,calendar,forecast,graph,2024,2025,2026

Labour Costs in European Union decreased to 114.60 points in the third quarter of 2024 from 121.20 points in the second quarter of 2024. Labour Costs in European Union averaged 92.99 points from 2009 until 2024, reaching an all time high of 121.20 points in the second quarter of 2024 and a record low of 74.20 points in the first quarter of 2009. source: EUROSTAT

Labour Costs in European Union is expected to be 121.48 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the European Union Labour Costs is projected to trend around 123.79 points in 2025 and 125.89 points in 2026, according to our econometric models.

Related	Last	Previous	Unit	Reference
Employed Persons	202015.00	201611.00	Thousand	Sep 2024
Employment Change	0.00	0.10	percent	Sep 2024
Full Time Employment	166294.90	165447.50	Thousand	Sep 2024
Labor Force Participation Rate	75.60	75.40	percent	Sep 2024
Labour Costs	114.60	121.20	points	Sep 2024
Long Term Unemployment Rate	1.80	1.90	percent	Sep 2024
Part Time Employment	35570.50	36010.90	Thousand	Sep 2024
Population	449.21	448.80	Million	Dec 2024
Productivity	106.17	105.63	points	Sep 2024
Unemployed Persons	12968.00	12984.00	Thousand	Nov 2024
Unemployment Rate	5.90	5.90	percent	Nov 2024
Wage Growth	5.00	5.50	percent	Sep 2024
Youth Unemployment Rate	15.30	15.20	percent	Nov 2024

European Union Labour Costs

The Labour Cost Index in the European Union is a short-term indicator showing the development of hourly labour costs incurred by employers, in nominal terms, that is without adjusting for price developments. It is calculated dividing the labour cost in national currency by the number of hours worked. The quarterly changes in hourly employers’ costs are measured for total labour costs and its main components: wages and salaries; and non-wage costs (labour costs other than wages and salaries). Total labour costs (TOT) cover wage and non-wage costs less subsidies. They do not include vocational training costs or other expenditures such as recruitment costs, spending on working clothes, etc.