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Germany's Labor Costs Rise At Faster Rate In Q2

284 days ago

(RTTNews) - Labor costs in Germany increased at a faster pace in the second quarter, data released by the Federal Statistical Office showed Friday.

The labor cost index, a measure of costs per hour worked, rose a seasonally and calendar-adjusted 1.5 percent sequentially in the second quarter, faster than the 0.2 percent gain seen in the first quarter. In the second quarter of 2011, labor costs had increased 0.9 percent.

The sequential growth in labor costs was particularly large for the economic branches of electricity, gas, steam and air conditioning supply, water supply and manufacturing. Labor costs were down in information and communication, other service activities, human health and social work activities and arts, entertainment and recreation, the agency said.

Costs of wages and salaries were higher by 1.8 percent quarter-on-quarter, while non-wage costs moved up 0.5 percent.

Year-on-year, labor costs increased 2.5 percent in the second quarter, after rising 1.8 percent in the first three months of 2011.

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