DATA - Unit labor costs

Unit labor costs
	2021	2022	2023	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24

	Annual change in %

Belgium	−0.7	6.3	7.1	7.3	6.5	5.9	1.7	2.2	x
Germany	−0.4	4.4	6.9	7.4	7.8	6.7	7.0	5.4	5.0
Estonia	2.0	13.1	15.2	14.9	14.2	11.2	9.5	8.9	x
Ireland	−5.9	1.0	16.8	14.9	19.3	19.7	13.2	9.6	x
Greece	−3.1	−0.4	4.5	3.9	5.2	5.6	5.1	3.4	x
Spain	0.6	2.2	6.2	6.8	7.4	6.6	5.4	3.6	3.1
France	0.6	4.6	4.3	5.1	4.0	3.2	2.8	3.6	x
Croatia	−4.5	6.7	14.3	12.9	18.1	14.6	11.5	15.8	x
Italy	−1.2	1.1	4.3	4.2	4.9	4.9	4.7	5.2	x
Cyprus	−3.4	4.1	3.8	4.7	3.4	3.2	3.4	3.3	x
Luxembourg	0.9	8.0	10.9	9.9	11.4	11.4	6.9	1.5	x
Latvia	−1.2	11.2	13.9	16.7	10.3	14.2	9.6	10.1	x
Lithuania	6.4	14.2	13.1	10.6	14.2	11.9	7.0	9.1	x
Malta	−5.3	4.4	0.2	0.1	0.0	−1.2	2.2	x	x
Netherlands	−1.8	2.5	7.9	9.3	8.5	7.7	8.3	6.5	4.8
Austria	−0.3	2.1	8.8	10.2	10.5	9.6	11.1	9.6	x
Portugal	1.6	2.4	6.5	6.8	6.1	6.0	8.4	7.7	x
Slovenia	0.9	5.1	9.1	9.0	8.5	6.9	5.5	6.9	x
Slovak Republic	0.5	7.3	8.7	8.4	7.3	9.8	5.7	5.3	x
Finland	3.7	4.5	5.6	7.4	5.0	3.7	1.7	−2.1	x
Euro area	−0.5	3.4	6.5	6.9	7.0	6.3	5.7	4.7	x



Bulgaria	3.6	10.5	12.9	10.8	11.4	10.1	12.5	12.5	x
Czech Republic	3.0	5.0	7.9	8.7	7.8	6.4	6.3	4.6	x
Denmark	−1.8	4.9	2.0	3.7	2.6	−1.5	2.8	1.0	0.9
Hungary	2.6	14.1	15.7	20.6	15.3	14.4	12.1	11.8	x
Poland	0.7	7.7	13.5	15.1	11.0	12.5	11.9	7.5	x
Romania	1.6	9.8	13.4	11.4	13.1	16.7	19.6	19.5	x
Sweden	0.3	4.0	6.9	7.1	8.0	7.4	4.2	3.4	x
EU	−0.3	3.8	6.8	7.3	7.2	6.6	6.2	5.1	x



United Kingdom	−3.3	3.0	7.3	8.0	7.3	6.7	5.7	4.2	3.8
Norway	2.1	5.2	7.5	5.9	10.5	8.6	6.7	1.9	x
Switzerland	−1.0	2.6	2.8	3.5	3.5	2.9	2.7	1.8	x
U.S.A.¹	2.2	5.1	3.4	4.0	2.6	3.0	2.2	1.7	1.9
Japan¹	−0.7	1.2	−0.2	0.1	0.0	−0.1	0.9	1.7	1.5

Source: ECB, Macrobond.

Sources of international organizations are used in this area to facilitate comparison. As a consequence, the data for Austria may deviate from those shown in the other sections.
¹ seasonal adjusted.