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Eurostat released its labour costs data for the Eurozone on Thursday. Hourly labour costs in the Eurozone rose at an annual rate of 2.2% in the first quarter, after a 1.2% gain in the previous quarter. It was the biggest rise since the second quarter of 2011.
Wages and salaries per hour climbed 2.2% in the first quarter, while non-wage costs gained 2.1%.
Hourly labour costs increased 2.5% in industry, 1.5% in construction, 2.3% in services, while 1.9% in the mainly non-business economy.
Highest increases were recorded in Latvia and Estonia, while costs in Cyprus fell.
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