The average hourly labor costs in the EU economy were 26.80 EUR in 2017, varying widely from 4.90 EUR in Bulgaria to 42.5 EUR in Denmark. The value includes agriculture and public administration, calculating all the costs for wages but also social charges paid by the employer. For the Eurozone the the labor costs in 2017 averaged at 30.3 EUR.
Romania is leader in labor cost growth compared to 2016, reporting an increase of slightly over 17%. Second is Bulgaria iwth 12% growth.
The labor cost within the EU are lowest for employers in Bulgaria (4.90 EUR/hour), followed by Romania (6.30 EUR/hour), Lithuania (8.00 EUR/hour), Latvia (8.10 EUR/hour), Hungary (9.10 EUR/hour) and Poland (9.40 EUR/hour). The highest are labor costs in Denmark (42.50 EUR/hour), Belgium (39.60 EUR/hour), Luxembourg (37.60 EUR/hour), Sweden (36.60 EUR/hour) and France (36.00 EUR/hour).
Hourly labor costs increased by 2.3% in the EU and 1.9% in the Eurozone compared to 2016.
In Eurozone countries, this increase is biggest in the Baltic countries – Lithuania (+9.0%), Estonia (+7.4%) and Latvia (+7.0%). The only decrease was registered in Finland (-1.5%).
For non-Eurozone countries, growth in 2017 is highest in Romania (+17.1%) and Bulgaria (+12.0%).