Hourly labour costs in Cyprus at €15,7 in 2014

In 2014, average hourly labour costs in the whole economy (excluding agriculture and public administration) were estimated to be €15,7 in Cyprus.

According to Eurostat, the statistical office of the European Union,in 2014, average hourly labour costs in the whole economy were estimated to be €24.6 in the EU and €29.2 in the euro area.

However, this average masks significant gaps between EU Member States, with the lowest hourly labour costs recorded in Bulgaria (€3.8), Romania (€4.6), Lithuania (€6.5) and Latvia (€6.6) and the highest in Denmark (€40.3), Belgium (€39.1), Sweden (€37.4) and Luxembourg (€35.9).

Source: Famagusta Gazette