News Column

German Q1 Hourly Labor Costs Rise Least Since 2010

June 6, 2014

BERLIN (Alliance News) - Germany's labor costs per hour worked rose a calendar-adjusted 1.1% year-on-year in the first quarter, which was the smallest increase since the third quarter of 2010, Destatis said Friday.

That came after a 2.2% rise in the final three months of 2013. Gross earnings costs climbed 2.3% annually in the first quarter, while non-wage costs declined 3%.

The agency noted that a drastic decline in sick leave, down 22% annually, due to a mild winter, contributed to the decrease in the expenditure for continued remuneration in the case of sickness, which accounts for a major part of non-wage costs.

Sequentially, hourly labor costs increased a seasonally-and-calendar-adjusted 0.4% in the first three months of the year, following a 1.1% gain in the previous quarter. Labor costs increased for the third quarter in a row.

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Source: Alliance News

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