Labor cost in Eurozone rose 2% in Q3

Source: FXstreet
© Scanpix/AFP
According to the data released by Eurostat, the EU statistics agency, labour cost in the Eurozone rose 2% in the third quarter of 2012 from 1.9% in the prior quarter. The 2 main components of labour costs are salaries and wages and non-wage costs. In the Euro bloc wages and salaries per hour increased 2.0%, while the non-wage part grew 1.7% in the Q3.

"There aren't many signs that the economy will be improving before the second half of next year," said Annalisa Piazza, Analyst at Newedge Group. "At least, things aren't going to be worse than this year. Confidence has improved because of the perception that the ECB and European leaders are slowly but surely moving in the right direction."

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