Eurostat: The 7th lowest average hourly labour costs in the EU had Greece in 2023

The 7th lowest hourly labour costs in the European Union (EU) In 2023, it recorded significantly lower than the European averages, according to its communication today (27.3.2024). According to Eurostat data, in 2023, net wage costs are still at a lower point, 5th place from the end, with an hourly wage of EUR 12.7. Overall, the average hourly labour costs in Greece ranged to 15.7 euros from 14.7 in 2022. Despite the annual increase in the European economy as a whole, the factory costs ranged to EUR 31.8 in the EU and EUR 35.6 in the euro area, compared to EUR 30.2 and EUR 34 respectively in 2022. Lower hourly labour costs in Bulgaria, higher in Luxembourg The average hourly labour costs reveal significant differences between EU countries, with the lowest recorded in Bulgaria (EUR 9.3), Romania (EUR 11) and Hungary (EUR 12.8), while the highest in Luxembourg (EUR 53.9), Denmark (EUR 48.1) and Belgium (EUR 47.1). The hourly labour cost in industry was 32.2 euros in the EU and 38 euros in the eurozone. In construction, it was 28.5 euros and 31.9 euros, respectively. In services, hourly labour costs ranged between 31.8 euros in the EU and 34.8 euros in the euro area. In the mainly non-business economy (excluding public administration), it was 32.4 euros and 35,7 euros, respectively.