Hourly Earnings: Manufacturing for the European Union
Annual, Not Seasonally Adjusted
LCEAMN01EUA661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.66
Year-over-Year Change
33.50%
Date Range
1/1/1996 - 1/1/2020
Summary
This economic indicator measures annual labor costs per employee in the euro area, excluding seasonal adjustments. It provides insights into the cost dynamics of the European labor market.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The annual, not seasonally adjusted labor cost per employee metric tracks the total labor costs, including wages and salaries as well as social contributions, incurred by employers per employee in the euro area. This data point is widely used by economists and policymakers to analyze workforce compensation trends and inflationary pressures.
Methodology
The data is collected and calculated by Eurostat, the statistical office of the European Union.
Historical Context
Policymakers and analysts monitor this indicator to assess the competitiveness of the European labor market and its impact on the broader economy.
Key Facts
- The euro area covers 19 EU member states that have adopted the euro as their currency.
- Labor costs account for around 60% of total production costs in the euro area.
- Trends in labor costs can influence inflation, competitiveness, and employment decisions.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the annual labor costs per employee in the euro area, excluding seasonal adjustments. It provides insights into workforce compensation dynamics in Europe.
Q: Why is this trend relevant for users or analysts?
A: This data point is widely used by economists and policymakers to analyze labor market conditions, inflationary pressures, and the competitiveness of the European economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Eurostat, the statistical office of the European Union.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this indicator to assess the competitiveness of the European labor market and its impact on the broader economy.
Q: Are there update delays or limitations?
A: The data is published quarterly, with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LCEAMN01EUA661N), retrieved from FRED.