Denmark boasts highest labour costs in EU
30 March ,Denmark: The Hourly labour cost in Denmark reached 300.30 Danish Kroner equivalent to 40.30 Euro ,the highest rate across the European Union.According to data published by Eurostat on Monday that Denmark‘s hourly labour cost increased by 0.9 percent in 2014 ,up to 300.30 kroner (€40.30) from 297.7 kroner (€39.90) in 2013..Labour costs include wages and salaries, as well as non-wage costs such as employers’ social contributions.
Denmark also had one of the smallest shares of non-wage costs, with just 13.1 percent of the country’s labour costs coming from expenses other than wages and salaries. Hourly labour costs in the services sector, which includes food and retail services, has the highest rate at 317.90 kroner, followed by industry (314.10 kroner) and business economy (313.30 kroner).Non-business sectors, which includes education, health and the arts, but excludes public administration, saw hourly labour costs at 276.70 kroner while the construction sector saw the lowest rate at 271.70 kroner.
Overall, the average hourly labour costs across the EU last year was €24.60 (about 183.78 kroner). Non-wage costs made up 24.4 percent of this.Labour costs across the EU rose by 1.4 percent between 2013 and 2014.
The countries with the lowest hourly labour costs were Bulgaria (€3.8), Romania (€4.6), Lithuania (€6.5) and Latvia (€6.6).
The Oslo Times