Polish labor costs up by 2.8% in Q3

Nominal hourly labor costs in Poland grew by 2.8 percent year-on-year in the third quarter of 2014, the EU’s statistics office said in a data release on Wednesday. Wages grew by 2.2 percent and non-wage costs grew by 5.3 percent. Throughout the EU, nominal hourly labor costs grew by 1.4 percent y/y in Q3 2014. Wages grew by 1.4 percent and other costs grew by 1.5 percent. In the euro area, the growth was 1.3 percent, 1.4 percent and 1.2 percent respectively.