Finland, whose labor costs grew by 7.6% on the year in the third quarter, posted the biggest increase among member states, the EU’s statistics office Eurostat said.
The lowest annual increases in hourly labor costs were observed in in Cyprus and the Netherlands (both +0.5%). Hourly labour costs decreased in Slovenia (-0.8%).
In the EU bloc, third quarter labor costs were up 2.4% on the year, compared with a 2.5% annual growth for the previous quarter. Hourly wages and salaries rose 2% in the third quarter, while the non-wage component of labor costs was up 1.9% on the year.