Hourly labor cost in the USA rises in the second quarter

Hourly labor cost in the European Union (EU) increased by 0.6 percent in the second quarter, when the new type of coronavirus (Kovid-19) measures softened compared to the same period of 2020.European Statistical Office (Eurostat), EU member countries and the Eurozone announced hourly labor costs data for the second quarter of 2021.

Accordingly, hourly labor costs in the 19-member Eurozone decreased by 0.1 percent in the second quarter compared to the same period last year. In 27 EU member countries, hourly labor costs decreased by 0 percent in the second quarter of the year compared to the same period of 2020. Hourly labor costs increased by 1.6 percent in the USA and 1.3 percent in the Euro Zone in the first quarter. Labor costs increased by 0.1 percent in France in the second quarter among EU countries. Labor costs remained flat in Germany, falling by 3.7 percent in Spain and 4 percent in Italy.