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According to current Eurostat data, the cheapest work is in Bulgaria, where an hour costs 9.3 euros (CZK 235), followed by Romania (11 euros) and Hungary (12.8 euros). On the contrary, the most expensive is in Luxembourg (53.9 euros/1364 CZK per hour), followed by Denmark (48.1 euros) and Belgium (47.1 euros).
In the country, the average price of an hour of work is 18 euros (455 CZK), the Union average is 31.8 euros. The map of countries depicting labor costs shows a clear difference between east and west, the Czech Republic and Slovakia are in the middle of the values.
In the Czech Republic, the price of labor has almost doubled over the past 15 years. But the price of work is not the same as a wage. Insurance and other non-salary costs are also included in the calculation.
Hourly labor costs
Hourly labor costs consist of salary or wage costs and non-wage costs. These mainly consist of financial costs for social and health insurance, which are paid by the employer on behalf of the employee. Enterprises with at least ten employees were included in Eurostat’s analysis.
Non-wage expenses make up a significant part of the price of work. For example, in Sweden and France it is almost a third of the total amount, on the contrary, in Malta it is only slightly over one percent.
However, the increase in the price of labor is influenced by wages. A decrease in the year-on-year comparison of the fourth quarter is reported only in Italy (by 0.1%), all other monitored countries registered an increase. In the Czech Republic it was by 5.2%, in Romania wage costs rose by almost 17%.
Tags: price European labor rising Bulgaria hour costs CZK Luxembourg
