Hourly labour costs in Cyprus for the whole of the country's economy (excluding agriculture and public administration), in enterprises with 10 or more employees increased by 1.1% in 2017, compared to 2016, according to an estimate issued by Eurostat recently.
Hourly labour costs increased from €15.8 to €16, while the non-wage component of that cost increased simultaneously by 16.7%.
Furthermore, hourly labour costs in enterprises with 10 or more employees, stood at €15.9 in the Business economy, €14.6 in the Industry, €13.9 in Construction, €16.5 in Services and at €17.5 in the mainly "nonbusiness economy, excluding public administration.”
According to Eurostat, in 2017, average hourly labour costs in the whole economy (excluding agriculture and public administration) were estimated to be €26.8 in the European Union (EU) and €30.3 in the euro area.
Source: CNA
