Labor Cost

The quarterly Labor Cost, released by Eurostat, shows the short-term development of the total hourly costs incurred by the employers of maintaining their employees. It measures the cost pressure arising from the production factor 'labor'.

Next event - Tuesday 16 September 2025 09:00

Previous
3.4%
Forecast
3.7%
Actual
-

The typical/expected market impact of this event is low.

The consensus forecast for Labor Cost is 3.7%. A higher value than forecast tends to be bullish for EUR/xxx pairs and bearish for xxx/EUR pairs.

Most recent - Monday 16 June 2025 09:00

Previous
3.7%
Revised
3.8%
Forecast
3.2%
Actual
3.4%

Higher numbers than forecast tend to be bullish for EUR/xxx pairs and bearish for xxx/EUR pairs.

Trading range

Forecast history

The most recent announced value for Labor Cost was 3.4% against a forecast of 3.2%.

Past events

Date
Forecast
Actual
Monday 16 June 2025 09:00
3.2%
3.4%
Wednesday 19 March 2025 10:00
-
3.7%
Monday 16 December 2024 10:00
4.6%
4.6%
Monday 16 September 2024 09:00
-
4.7%
Monday 17 June 2024 09:00
4.9%
5.1%
Tuesday 19 March 2024 10:00
-
3.4%
Friday 15 December 2023 10:00
-
5.3%
Friday 15 September 2023 09:00
-
4.5%
Friday 16 June 2023 09:00
3.3%
5%
Friday 17 March 2023 10:00
3%
5.7%
Monday 19 December 2022 10:00
3%
2.9%

Economic context

Recent economic data has been broadly neutral for EUR. Other recent announcements which may affect the market's interpretation of the next Labor Cost result:

PreviousLatest
Harmonized Index of Consumer Prices (YoY)(no change)2.7%2.7%
Consumer Price Index (EU norm) (YoY)(no change)0.8%0.8%
Harmonized Index of Consumer Prices (MoM)(no change)0.1%0.1%
Harmonized Index of Consumer Prices (YoY)(no change)2.1%2.1%
10-y Bond AuctionBullish change2.77%2.25%
Sentix Investor ConfidenceBearish change-3.7-9.2
Industrial Production n.s.a. w.d.a. (YoY)Bullish change-1.8%1.5%
Industrial Production s.a. (MoM)Bullish change-0.1%1.3%
Trade Balance s.a.Bearish change€15.4B€14.7B
Employment Change (QoQ)(no change)0.1%0.1%
Gross Domestic Product s.a. (QoQ)(no change)0.1%0.1%
Gross Domestic Product s.a. (YoY)Bullish change1.4%1.5%
Factory Orders n.s.a. (YoY)Bearish change1.7%-3.4%
Factory Orders s.a. (MoM)Bearish change-0.2%-2.9%
Retail Sales (MoM)Bearish change0.6%-0.5%
Retail Sales (YoY)Bearish change3.5%2.2%
10-y Bond AuctionBearish change2.69%2.77%
Producer Price Index (MoM)Bearish change0.8%0.4%
Producer Price Index (YoY)Bearish change0.6%0.2%
HCOB Composite PMIBearish change51.151
HCOB Composite PMIBearish change50.950.5
HCOB Services PMIBearish change50.149.3
HCOB Services PMIBearish change55.153.2
Core Harmonized Index of Consumer Prices (MoM)Bullish change-0.2%0.3%
Core Harmonized Index of Consumer Prices (YoY)(no change)2.3%2.3%
Harmonized Index of Consumer Prices (MoM)Bullish change0%0.2%
Harmonized Index of Consumer Prices (YoY)Bullish change2%2.1%

About Labor Cost

Country:Eurozone
Currency:EUR
Source:Eurostat
Category:Labor Market
Frequency:Quarterly
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