Eurozone Labor Costs Increase In Q2

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Eurozone's labor cost index rose 4% year-on-year in the second quarter, faster than a 3.6% increase in the first quarter, revised from 3.7% growth reported initially, a report by the Eurostat said Tuesday. Economists expected an increase of 3.4%.

In the second quarter, wages and salaries grew 3.9% annually, compared to a revised 3.4% growth in the first quarter, while the non-wage costs were up 4.2% compared to a revised 4.1% rise in the preceding quarter.

In EU 27, the labor cost index increased 3.7% on an annual basis in the second quarter, compared to the 1.3% growth in the previous quarter.

Eurozone's labor cost index rose 4% year-on-year in the second quarter, faster than a 3.6% increase in the first quarter, revised from 3.7% growth reported initially, a report by the Eurostat said Tuesday. Economists expected an increase of 3.4%. (Market News Provided by RTTNews)