Croatia was among the EU countries with the highest growth in labor costs per hour in the fourth quarter of 2023, alongside Romania and Hungary, according to a Eurostat report.
In the eurozone, the nominal labor cost per hour from October to December was 3.4 percent higher than in the same period of 2022, according to seasonally adjusted data from Eurostat. In the third quarter, it had increased by 5.2 percent, according to revised data. At the level of the 27-member EU, it increased by 4.0 percent in the fourth quarter, following a revised 5.6 percent increase in the previous three months.
Wage costs in the eurozone increased by 3.1 percent at the end of last year, while contribution costs rose by 4.2 percent. In the EU, wage costs grew by 3.8 percent, and contribution costs by 4.6 percent, according to the statistical office’s tables.
Both the industry and the construction and service sectors in the eurozone recorded labor cost growth slightly above four percent, while in the EU, growth rates were closer to five percent.
Croatia at the Top
Among EU countries, the highest growth in wage and contribution costs in the fourth quarter was recorded in Romania, with an increase of 16.9 percent compared to the same period in 2022, according to Eurostat’s statement.
