Eurostat analysis ranks Greece among European countries with lowest labour costs

At the higher end of the spectrum, countries like Luxembourg (€53.9), Norway (€51.9), and Belgium (€47.1) have hourly labour costs exceeding €45. Conversely, Bulgaria (€9.3), Romania (€11), Hungary (€12.8), Croatia (€14.4), and Poland (€14.5) make up the segment with labour costs under €15.

Eurostat points out that labour costs consist of wages and non-wage costs, with the latter comprising 24.7% of total labour costs in the EU and 25.5% in the Eurozone. Malta (1.4%), Romania (5.0%), and Lithuania (5.4%) have the lowest non-wage cost shares, while Sweden (32.2%) and France (31.9%) have the highest.

For 2023, the average hourly labour cost was reported at €31.8 for the EU and €35.6 for the Eurozone, marking an increase from €30.2 and €34.0, respectively, in 2022.

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