Romania reported the highest increase in hourly wage costs in the European Union in the third quarter of this year, with a 17.1% increase compared to the same period last year, new data from Eurostat has shown.
According to the data, other countries to report a large increase in hourly wage costs included Croatia (+15.1%), Hungary (+14.1%), Bulgaria (+12.7%) and Latvia (+12.6%).
Greece was the only EU country to report a decrease in hourly wage costs since last year, reporting a 2.9% decline in the third quarter of 2024.
Hourly wage costs across the EU
Overall, across the EU, hourly wage costs increased by 5.0% in the third quarter, while in the euro area, the increase was 4.4%.
Hourly labour costs, which incorporate both wages and salaries along with non-wage costs, rose by 5.1% in the EU in the third quarter, and 4.6% in the euro area.
On a sector-by-sector basis, hourly labour costs were up 5.3% in industry, 5.5% in construction and 4.9% in services. The biggest increase in hourly wage costs, meanwhile, was seen in ‘arts, entertainment and recreation’ (+7.0%) and education (+6.2%). Read more here.
Hourly wage cost increases by EU member state, Q3 2024 (%)
| Country | Hourly Wage Cost Increase (%) |
|---|---|
| Romania | 17.1 |
| Croatia | 15.1 |
| Hungary | 14.1 |
| Bulgaria | 12.7 |
| Latvia | 12.6 |
| Poland | 12.0 |
| Lithuania | 11.0 |
| Austria | 10.0 |
| Estonia | 8.7 |
| Portugal | 8.4 |
| Slovakia | 6.3 |
| Netherlands | 5.7 |
| Czechia | 5.4 |
| Italy | 5.2 |
| Ireland | 5.0 |
| Spain | 4.7 |
| Cyprus | 4.7 |
| Malta | 4.7 |
| Slovenia | 4.5 |
| Denmark | 4.2 |
| Germany | 4.0 |
| Sweden | 3.4 |
| France | 2.7 |
| Finland | 2.7 |
| Belgium | 2.6 |
| Luxembourg | 1.0 |
| Greece | -2.9 |
NB: The data for Romania, Hungary, Bulgaria, Latvia, Austria, Portugal, Slovakia, Netherlands, Czechia, Ireland, Spain, Cyprus, Malta, Sweden, France, Finland and Belgium is provisional.
