Greece has one of the lowest hourly labor costs within the European Union, at €16.7, according to Eurostat data.
The data reveals that only Bulgaria (€10.6), Romania (€12.5), Hungary (€14.1), Latvia (€15.1), Lithuania (€16.3), and Croatia (€16.5) have lower hourly labor costs than Greece.
These costs encompass both wages and non-wage expenses, such as employer social contributions.
Conversely, the highest hourly labor costs were recorded in Luxembourg (€55.2), Denmark (€50.1), Belgium (€48.2), and the Netherlands (€45.2).
The average hourly labor cost in the EU for 2024 is estimated at €33.5, while in the Eurozone, it stands at €37.3. This represents an increase from 2023, when the EU average was €31.9 and the Eurozone average was €35.7.
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