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Germany Q1 Labor Costs Growth Accelerates

Germany’s labor costs growth quickened in the three months ended March, after easing in the previous four quarters, figures from Destatis showed Friday.

Labor costs per hour worked consisting of gross earnings and non-wage costs rose 2.3 percent year-over-year in the first quarter, faster than the 1.5 percent climb in the fourth quarter.

The cost of gross earnings grew 2.1 percent on year and non-wage costs went up by 2.9 percent.

On a quarterly basis, labor costs growth accelerated to 1.0 percent in the March quarter from 0.4 percent in the previous quarter

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