Euro-zone Labour Costs (Q1)

The surge in nominal hourly labour costs growth in Q1 primarily reflects a collapse in hours worked as lockdowns restricted economic activity at the end of the quarter. This is likely to be repeated in Q2, but thereafter, wage growth is likely to subside amid weak demand and rising unemployment.

Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.
By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.

Already a client or trialist? Log in to read this.