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2025-12-17 19:04:39
[Eurozone Labor Cost Growth Slows in Q3 2025] ⑴ Hourly labor costs in the Eurozone grew by 3.3% year-on-year in Q3 2025, a slowdown from 3.6% in the previous quarter and below the preliminary estimate of 3.5%. ⑵ Wage and salary growth slowed to 3.0%, compared to 3.7% in Q2 2025; while non-wage costs, including social contributions and benefits, grew by 4.0% year-on-year, higher than 3.4% in the previous quarter. By sector, hourly labor costs in the business sector grew by 3.3%, with construction growing by 4.3%, industry by 3.3%, and services by 3.2%; the growth in the non-business sector was more moderate, at 3.1%. ⑶ Among the major Eurozone economies, Germany's labor costs grew by 4.0%, a slowdown from 4.3% in Q2; Italy's grew by 2.8%, compared to 3.8% previously; Spain's grew by 2.1%, compared to 3.7% previously; and the Netherlands' grew by 3.8%, compared to 6.5% previously. France's labor costs grew by 1.7%, slightly faster than the previous 1.6%.
