The Labor Cost index is the sum of all payments made to the working population, divided by the number of employees and hours worked. It is calculated without taking into account employees in agriculture, health and education.
In addition to reflecting the income situation of employees, the index reflects the prospects for inflation. Increased labor costs are considered as an indicator of impending inflation, which could raise interest rates. Index changes have little effect on the euro.
- Release Frequency: quarterly.
- Release Schedule: 09:00 GMT, in the middle of the third month after the reporting quarter.
- Source: Eurostat.