The pace of wage growth in the euro zone accelerated to a two years peak

Personnel costs rose further in the European Union and in the euro area in the second quarter. In the euro area, the pace of wage growth accelerated to a two years peak.

According to the data from the EU’s Statistical Office (Eurostat) published on Friday, the hourly labor costs increased by 1.8 percent in the euro area and by 2.2 percent in the EU in April-June. In the first quarter, an increase of 1.4 percent and 1.6 percent was measured. (MTI)