Austrian Hourly Labor Costs Rise Significantly

Business › Economy ♦ Published: June 14, 2012; 13:07 ♦ (Vindobona)

First quarter 2012 compared with first quarter 2011: Euro area hourly labour costs rose by 2.0%.

Austrian Hourly Labor Costs Rise Significantly / Picture: © Vindobona.org

Hourly labour costs in the euro area1 (EA17) rose by 2.0% in the year up to the first quarter of 2012, compared with 2.8% for the previous quarter2. In the EU271, the annual rise was 1.7% up to the first quarter of 2012, compared with 2.7% for the previous quarter.

The two main components of labour costs are wages & salaries and non-wage costs. In the euro area, wages &…

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