BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The euro area hourly labor cost increased at a slower pace in the first quarter of 2025, data published by Eurostat showed on Monday.
Hourly labor cost grew 3.4 percent on a yearly basis, following a 3.8 percent increase seen in the fourth quarter.
Wages and salaries and non-wage costs, the two main components of labor costs, grew 3.4 percent each in the March quarter.
In services, hourly labor costs gained 4.3 percent, and those in construction climbed 4.7 percent. Labor costs in industry grew 2.5 percent.
Data showed that hourly labor cost in the EU increased 4.1 percent after a 4.3 percent gain a quarter ago.
The highest increases in hourly wage costs for the whole economy were recorded in Romania, Croatia, and Bulgaria.
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