Euro Area Wage Growth

Last Release

Sep 30, 2022

Actual

2.1

Units In

4.1

Frequency

Quarterly

Next Release

Jun 17, 2024

Time to Release

2 Months 28 Days 1 Hours

Highest	Lowest	Average	Date Range	Source
5.4 Jun 2020	-0.5 Jun 2021	2.04 %	2009-2022	Eurostat

In the Euro Area, wage growth refers to the change in the total remuneration, in cash or in kind, payable to all persons counted on the payroll (including home workers), in return for work done during the accounting period, regardless of whether it is paid on the basis of working time, output or piecework and whether it is paid regularly.

Latest Updates

Wages in the Eurozone rose 3.1% year-on-year in the fourth quarter of 2023, the least since the third quarter of 2022, following a downwardly revised 5.2% increase in the previous period. Biggest wage increases were seen for the mining and quarrying sector (11.3%), water supply, sewerage (5.7%), transport and storage (5.6%), administrative and support services (5.6%) and wholesale and retail trade (4.9%). Among the bloc's largest economies, wage growth slowed sharply in Germany (2.2% vs 5.8%) and at a more modest pace in France (2.7% vs 3.3%) and Spain (4.2% vs 4.6%). Also, nominal hourly wages in Italy were down 0.1%, following a 2% rise in the previous period.