Finland, whose labor costs grew by 4.9% on the year in the second quarter, posted the second-highest increase among member states, followed by Bulgaria and Latvia (both 4.8%), the EU’s statistics office Eurostat said.
The lowest annual increases in hourly labor costs were observed in Ireland (+0.4%), Spain (-3.5%) and the Netherlands (both +0.5%).
In the EU bloc, second quarter labor costs were up 1.8% on the year, compared with a 1.4% annual growth for the previous quarter. Hourly wages and salaries rose 1.9% in the second quarter, while the non-wage component of labor costs was up 1.4% on the year.