Annual growth in labour costs at 2.7% in euro area
At 3.1% in EU28
Hourly labour costs rose by 2.7% in the euro area (EA19) and by 3.1% in the EU28 in the second quarter of 2019, compared with the same quarter of the previous year. In the first quarter of 2019, hourly labour costs increased by 2.5% and 2.7% respectively. These figures are published by Eurostat, the statistical office of the European Union.
The two main components of labour costs are wages & salaries and non-wage costs. In the euro area, the cost of wages & salaries per hour worked grew by 2.7% and the non-wage component by 2.9% in the second quarter of 2019 compared with the same quarter of the previous year. In the first quarter of 2019, the annual changes were +2.7% and +2.1% respectively. In the EU28, the costs of hourly wages & salaries rose by 3.1% and the non-wage component rose by 3.0% in the second quarter of 2019. In the first quarter of 2019, annual changes were +2.9% and +2.1% respectively.
Breakdown by economic activity
In the second quarter of 2019 compared with the same quarter of the previous year, hourly labour costs in the euro area rose by 2.1% in industry, by 2.4% in construction, by 2.9% in services and by 3.0% in the (mainly) non-business economy. In the EU28, labour costs per hour grew by 2.5% in industry, by 3.1% in construction and by 3.3% in both services and in the (mainly) non-business economy.
In the second quarter of 2019, the highest annual increases in hourly labour costs for the whole economy were registered in Romania (+12.4%), Bulgaria (+11.0%), Slovakia (+10.6%) and Hungary (+10.1%) while the lowest increases were recorded in Portugal (0.9%) and Malta (1.1%).
The euro area (EA19) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The European Union (EU28) includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom.
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Questi dati dovrebbero essere letti con grande attenzione.
«- Industrial production down by 0.4% in euro area m/m
– In June 2019, industrial production fell by 1.4% in both the euro area and EU28.
– In July 2019 compared with July 2018, industrial production decreased by 2.0% in the euro area and by 1.2% in the EU28
– the largest decreases in industrial production were registered in Estonia (-5.4%), Germany (-5.3%) and Romania (-5.2%).
– The highest increases were observed in Hungary (+8.7%), Denmark and Lithuania (both +5.1%).»
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È quindi cosa logica che nei paesi dell’est europeo il costo del lavoro salga a fronte di incrementi della produzione, mentre, al contrario, in Germania altro non fa che peggiorare la già cattiva situazione.