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Labor Cost

The quarterly Labor Cost, released by Eurostat, shows the short-term development of the total hourly costs incurred by the employers of maintaining their employees. It measures the cost pressure arising from the production factor 'labor'.

Most recent - Friday 17 March 2023 10:00

Previous
2.9%
Revised
3.7%
Forecast
3%
Actual
5.7%

Higher numbers than forecast tend to be bullish for EUR/xxx pairs and bearish for xxx/EUR pairs.

Next event - Friday 16 June 2023 09:00

Previous
5.7%
Forecast
3.3%
Actual
-

The typical/expected impact on EUR pairs is medium.

The consensus forecast for Labor Cost is 3.3%. A higher value than forecast tends to be bullish for EUR/xxx pairs and bearish for xxx/EUR pairs.

Trading range

Forecast history

The most recent announced value for Labor Cost was 5.7% against a forecast of 3%.

Past events

Date
Forecast
Actual
Friday 17 March 2023 10:00
3%
5.7%
Monday 19 December 2022 10:00
3%
2.9%
Thursday 15 September 2022 09:00
1.4%
4%
Thursday 16 June 2022 09:00
-
3.2%
Friday 18 March 2022 10:00
1.3%
1.9%
Thursday 16 December 2021 10:00
-
2.5%
Wednesday 15 September 2021 09:00
-
-0.1%
Wednesday 16 June 2021 09:00
3.3%
1.5%
Thursday 18 March 2021 10:00
-
3%
Wednesday 16 December 2020 10:00
-
1.6%
Tuesday 15 September 2020 09:00
3.1%
4.2%
Tuesday 16 June 2020 09:00
2.3%
3.4%

Economic context

Recent economic data has been broadly neutral for EUR. Other recent announcements which may affect the market's interpretation of the next Labor Cost result:

PreviousLatest
Core Harmonized Index of Consumer Prices (MoM)Bearish change1%0.2%
Core Harmonized Index of Consumer Prices (YoY)Bearish change5.6%5.3%
Harmonized Index of Consumer Prices (MoM)Bearish change0.6%0%
Harmonized Index of Consumer Prices (YoY)Bearish change7%6.1%
Unemployment RateBullish change6.6%6.5%
30-y Bond AuctionBullish change3.81%3.98%
UnemploymentBullish change7.9%7.8%
HCOB Manufacturing PMIBullish change42.943.2
HCOB Manufacturing PMIBearish change46.845.9
HCOB Manufacturing PMIBearish change4948.4
Retail Sales (MoM)Bullish change-2.4%0.8%
Retail Sales (YoY)Bullish change-8.6%-4.3%
Harmonized Index of Consumer Prices (YoY)Bearish change7.6%6.3%
Gross Domestic Product (QoQ)Bullish change0.5%0.6%
Gross Domestic Product (YoY)Bullish change1.8%1.9%
Unemployment ChangeBullish change24K9K
Unemployment Rate s.a.(no change)5.6%5.6%
Business ClimateBearish change0.510.19
Consumer Confidence(no change)-17.4-17.4
Gfk Consumer Confidence SurveyBullish change-25.8-24.2
Gross Domestic Product (QoQ)Bearish change0%-0.3%
Gross Domestic Product (YoY)Bearish change-0.1%-0.5%
Gross Domestic Product w.d.a (YoY)Bearish change0.2%-0.2%
IFO – Business ClimateBearish change93.491.7
IFO – Current AssessmentBearish change95.194.8
IFO – ExpectationsBearish change91.788.6
HCOB Composite PMIBearish change54.153.3
HCOB Manufacturing PMIBearish change45.844.6
HCOB Services PMIBearish change56.255.9
HCOB Composite PMIBullish change54.254.3
HCOB Manufacturing PMIBearish change44.542.9
HCOB Services PMIBullish change5657.8
HCOB Composite PMIBearish change52.451.4
HCOB Manufacturing PMIBullish change45.646.1
Consumer ConfidenceBullish change-17.5-17.4

About Labor Cost

Country:Eurozone
Currency:EUR
Source:Eurostat
Category:Labor Market
Frequency:Quarterly

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