Eurostat: Labor costs up 5.4% in Q4

Nominal hourly labor costs in Poland grew by 5.4 percent year-on-year in the fourth quarter of 2016, the EU’s statistics office Eurostat said in a data release. Wages grew by 5.4 percent and non-wage costs grew by 5 percent. The biggest hike in labor costs was noted in construction sector - by 5.3 percent. Throughout the EU, nominal hourly labor costs grew by 1.7 percent y/y in Q4 2016. In the euro area, labor costs increased by 1.6 percent.