labour costs

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European labour costs slightly higher, bad news for competitiveness

Eurostat, the statistical office of the European Union, released Thursday data on hourly labour costs in the euro zone and in the EU. In both instances, the records indicate a very small increase but enough to strengthen the argument of those governments introducing wide-reach labour market reforms. Hourly labour costs in the euro area rose by 2.8% in the year up to the fourth quarter of 2011, compared with 2.6%…