Eurozone hourly labor costs increased at a slower pace in the fourth quarter, data from Eurostat showed on Friday.
Hourly labor costs grew 1.9 percent on a yearly basis, slower than the 2.3 percent increase seen in the third quarter.
The two main components of labor costs are wages and salaries and non-wage costs. Wages and salaries climbed 1.5 percent after a 2.2 percent rise. Meanwhile, the non-wage component rose at a faster rate of 3.4 percent following a 2.6 percent increase.
The EU labor cost gained 2.3 percent annually versus third quarter’s 2.8 percent increase.