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Tuesday, November 5, 2024
CEOWORLD magazine - Latest - CEO Agenda - Countries With Highest And Lowest Hourly Labour Costs In the EU And Eurozone, 2017

CEO Agenda

Countries With Highest And Lowest Hourly Labour Costs In the EU And Eurozone, 2017

Denmark

It may surprise you to learn that With €42.5 of average hourly labour costs, Denmark topped the list, followed by Belgium (€39.6), Luxembourg (€37.6), Sweden (€36.6), and France (€36.0).

Whereas, the lowest hourly labour costs recorded in Bulgaria (€4.9), Romania (€6.3), Lithuania (€8.0), Latvia (€8.1), Hungary (€9.1), and Poland (€9.4).

In 2017, average hourly labour costs in the whole economy (excluding agriculture and public administration) were estimated to be €26.8 in the European Union (EU) and €30.3 in the eurozone.

These estimates are issued by Eurostat, the statistical office of the European Union. Data cover enterprises with 10 or more employees.

Countries With Highest And Lowest Hourly Labour Costs In the EU And Eurozone, 2017

  1. Denmark: €42.5
  2. Belgium: €39.6
  3. Luxembourg: €37.6
  4. Sweden: €36.6
  5. France: €36.0
  6. Netherlands: €34.8
  7. Germany: €34.1
  8. Austria: €34.1
  9. Finland: €32.7
  10. Ireland: €31.0
  11. Italy: €28.2
  12. United Kingdom: €25.7
  13. Spain:€21.20
  14. Slovenia: €17.0
  15. Cyprus: €16.0
  16. Greece: €14.5
  17. Portugal: €14.10
  18. Malta: €13.8
  19. Estonia: €11.70
  20. Czech Republic: €11.30
  21. Slovakia: €11.10
  22. Croatia: €10.60
  23. Poland: €9.4
  24. Hungary: €9.1
  25. Latvia: €8.1
  26. Lithuania: €8.0
  27. Romania: €6.3
  28. Bulgaria: €4.9

European Union (EU): €26.8
Eurozone: €30.3
Iceland: €42.96
Norway: €51.0


Labour costs consist of wages and salaries and non-wage costs (e.g. employers’ social contributions). The share of non-wage costs in total labour costs for the whole economy was 24.0% in the EU and 25.9% in the euro area. Full-details here.


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CEOWORLD magazine - Latest - CEO Agenda - Countries With Highest And Lowest Hourly Labour Costs In the EU And Eurozone, 2017
Prof. Dr. Amarendra Bhushan Dhiraj
Prof. Dr. Amarendra Bhushan Dhiraj is a publishing executive and economist who is the CEO and editor-in-chief of The CEOWORLD magazine, one of the world’s most influential and recognized global news publications. Additionally, he serves as the chair of the advisory board for the CEOWORLD magazine. He received his Ph.D. in Finance and Banking from the European Global School, Paris, France. He earned his Doctoral Degree in Chartered Accountancy from the European International University Paris, France, and a Doctorate in Business Administration from Kyiv National University of Technologies and Design (KNUTD), Ukraine. Dr. Amarendra also holds a Master of Business Administration degree in International Relations and Affairs from the American University of Athens, Alabama, United States.


Prof. Dr. Amarendra Bhushan Dhiraj is CEO and editor-in-chief of CEOWORLD magazine. You can follow him on LinkedIn, Facebook, Twitter.