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Annual growth in labor costs hits 1.0 pct in euro area in Q2

Xinhua, September 16, 2016 Adjust font size:

Hourly labor costs rose by 1.0 percent in the euro area and by 1.4 percent the European Union (EU) in the second quarter of 2016, compared with the same quarter of the previous year, according to figures published on Friday by Eurostat, the statistical office of the EU.

In the euro area, wages and salaries per hour grew by 0.9 percent and the non-wage component by 1.4 percent, in the second quarter of 2016 compared with the same quarter of the previous year.

In the EU member states, the component of hourly wages and salaries rose by 1.3 percent and the non-wage component by 1.6 percent in the second quarter of 2016.

In the second quarter of 2016, compared with the same quarter of the previous year, hourly labor costs in the euro area rose by 0.9 percent in industry, by 1.5 percent in construction, by 0.9 percent in services and by 1.1 percent in the (mainly) non-business economy.

In the EU area, labor costs per hour grew by 1.1 percent in industry, by 3.1 percent in construction, by 1.2 percent in services and by 1.6 percent in the (mainly) non-business economy. Endit