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EU member states show huge difference in labor costs

Xinhua, March 30, 2015 Adjust font size:

There were significant gaps between hourly labor costs across European Union member states in 2014, the EU statistical office Eurostat said Monday.

According to official figures, average hourly labor costs in the EU were estimated to be 24.6 euros (26.67 U.S. dollars) in the EU and 29.2 euros in the euro zone.

Eurostat noted significant gaps between EU member states, with the lowest hourly labor costs recorded in Bulgaria (3.8 euros), Romania (4.6 euros) and Lithuania (6.5 euros) and the highest in Denmark (40.3 euros), Belgium (39.1 euros) and Sweden (37.4 euros).

Between 2013 and 2014, hourly labor costs in the euro zone expressed in euro rose by 1.4 percent in the EU and by 1.1 percent in the euro zone. Endit