European Union: Average Hourly Labor Cost
Average Hourly Labor Cost in 2022
The average hourly labor cost in the European Union (EU) in 2022 was 305 Euros. This figure represents the average cost of labor, including wages, salaries, and benefits, for all employees in the EU. The highest average labor costs were found in Denmark (47.4 Euros per hour), followed by Belgium (44.6 Euros per hour) and Sweden (43.8 Euros per hour).
Labor Cost Data
Data on labor costs in the EU is available in euros, national currency, and purchasing power standards. The data is collected by Eurostat, the statistical office of the EU. It is published annually and provides a comprehensive overview of labor costs in the EU.
Labor Cost Trends
Labor costs in the EU have been increasing steadily over the past decade. This trend is expected to continue in the coming years. The increase in labor costs is due to a number of factors, including rising wages, increased benefits, and changes in the composition of the workforce.
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