· News

UK hourly labour costs below EU average, Eurostat figures reveal

The UK's hourly labour costs are almost two euros below the EU average, figures released from the EU's statistics agency Eurostat reveal.

The EU hourly average in 2012 was €23.4 in 2012. In the UK it was €21.6 in the same year.

Hourly labour costs in 2012 ranged from €3.7 in Bulgaria, €4.4 in Romania, €5.8 in Lithuania to €34.2 in France and €39.0 in Sweden across the 27 member states.

The labour costs are based on wages and salaries as well as non-wage costs such as employers' social contributions.

In the UK, hourly labour costs have risen from €20.9 in 2008 to €21.6 in 2012, which only represents a 3.3% rise in four years.

The biggest drop in labour costs was found in Greece. Coinciding with the country's economic problems, Eurostat figures showed a decrease of 11.2% from 2008 to 2012.

In the eurozone, the biggest increases since 2008 were in Austria (15.5%), Slovakia (13.8%) and Finland (13.7%).

The Eurostat data was given in euros to enable comparison across the EU. The data covers the whole economy except for agriculture and public administration.