March 19, 2021
According to the statistical office of the European Union ( Eurostat), euro area hourly labour cost increased by 3% during the fourth quarter of 2020, while EU hourly labour cost increased by 3.3% when compared to the same quarter of the previous year. It was noted that there was an increase of 1.6% in the euro area and 1.8% in EU during the third quarter of 2020.
The two main components used to determine labour costs are wages & salaries and non-wages cost. The Eurostat noted, in the euro area, the cost of wages & salaries per hour worked increased by 3.5% and the non-wage component by 1.5% in the fourth quarter of 2020, compared to the corresponding quarter last year. Also in the EU, the costs of hourly wages & salaries went up by 3.7% and the non-wage component rose by 1.8% in the fourth quarter of 2020, compared to 2019 fourth quarter.
Furthermore, Eurostat noted, in the third quarter of 2020, the annual changes were an increase of 2.2% for wages & salaries and a decrease of 0.3% for the non-wage component, while in the EU wages & salaries rose by 2.4% and non-wages component remain unchanged.
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
