Labor Cost In Europe Increased In The Second Quarter!

Labor Cost In Europe Increased In The Second Quarter! Labor cost in Europe increased in the second quarter! With the measures taken to combat the coronavirus epidemic were largely implemented, hourly labor cost in the European Union increased by 4.1 percent in the second quarter of 2020 compared to last year. The data announced by the European Union Statistics Office (Eurostat) included hourly labor costs for the second quarter of 2020 in EU member countries and the Euro Zone. According to these data, hourly labor costs in the Euro Area, which has 19 members, increased by 4.1 percent in the second quarter of this year compared to the same period last year. In the European Union, which has 27 members, the hourly labor cost increased by 4.1 percent in the second quarter of 2020 compared to the same period of 2019. Among the EU countries, the highest increases were recorded in Romania with 16.1 percent, Portugal with 13.5 percent, Lithuania with 12.4 percent and Hungary with 12.2 percent. The mentioned increase was recorded as 5.1 percent in Germany, 2.2 percent in France, 8.6 percent in Spain and 2.8 percent in Italy.