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Development of the labor cost index for Germany and the EU-27 from the 2nd quarter of 2019 to the 1st quarter of 2022

09/30/2022

The statistic shows the development of the labor cost index for Germany and the EU-27 from the 2nd quarter of 2019 to the 1st quarter of 2022. In the 1st quarter of 2022, the labor cost index in the European Union (27 countries) was 116.8 points.

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The labor cost index is a business cycle indicator that shows the development of hourly labor costs incurred by employers for employing workers. The index relates to industry, construction and the service sector (excluding agriculture, forestry, fisheries, education, health care and other personal services). Labor costs include wages and salaries, employers' social security contributions and employment-related taxes less employment-related subsidies. The labor cost index is a chained Laspeyres index with a value of 100 for 2016.