Labour Costs in Detail
Essential Data for Understanding Labor Market Dynamics
A Comprehensive Overview of Labor Cost Trends
In-depth statistics on labor costs provide a comprehensive picture of the structure and short-term developments in this crucial economic indicator. Data available through Eurostat encompasses two primary categories:
1. WEB Labour costs: Encompassing both wages and salaries, as well as non-wage costs such as employers' social contributions. In 2023, non-wage costs accounted for a significant portion of overall labor costs.
2. Hourly labour costs: Ranging widely in 2023, from 93 to 539 per hour. Average hourly labor costs across the economy reached a specific value.
The data sources for these statistics are comprehensive, ensuring a reliable and up-to-date representation of labor market trends. By delving into the intricacies of labor productivity and unit labor costs, this data empowers decision-makers with a deep understanding of the key drivers shaping the employment landscape.
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