The number of employed persons in Eurozone fell 0.2 percent sequentially in the fourth quarter, the same rate of decline as seen in the third quarter, Eurostat said Thursday. The largest sequential fall in employment was recorded in construction and the highest increase in real estate activities.
On a yearly basis, employment slipped 0.2 percent, wiping out the third quarter's 0.2 percent rise. Over the whole year 2011, employment increased by 0.2 percent. Hourly labor costs rose 2.8 percent year-on-year in the fourth quarter, picking up from 2.6 percent increase in the third quarter, the statistical office said in a separate report. The two main components of labor costs are wages and salaries and non-wage costs.
Wages and salaries per hour climbed 2.5 percent and the non-wage component grew 3.5 percent. The breakdown by economic activity showed that hourly labor costs rose by 3.3 percent in industry and 2.6 percent in both construction and services.
Over the whole year 2011, hourly labor costs increased by 2.8 percent.