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Hourly labour costs down slightly
30 Mar 2015 11:11
Hourly labour costs in Ireland fell slightly last year, according to Eurostat, though they remain above the euro zone average.
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Average labour costs in Ireland stood at €29.80 per hour in 2014, according to the European statistics agency, down 0.2% year-on-year.
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This compares to an average of €29 across the nineteen countries in the euro zone – which was a 1.1% rise on the 2013 figure.
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The hourly figure includes all waged and non-waged costs, such as salary and bonuses as well as employers’ social contributions or employment-related taxation.
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The Eurostat figures show a significant variation across euro zone states, with Lithuania’s hourly labour cost standing at €6.50, while Luxembourg’s comes in at €35.90.
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The average hourly rate across the entire European Union is estimated to have been €24.60 – up 1.4% year-on-year.
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Denmark had the highest hourly labour cost last year at €40.30, while Bulgaria’s was the lowest at €3.80.
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Britain’s rate stood at €22.30, while German’s was €31.40.
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