The euro area hourly labor cost growth accelerated more than expected in the first quarter, which aligns with trends revealed by other indicators and the European Central Bank's view that wage pressures are set to remain elevated for some time before entering a downward trajectory next year.
Hourly labor cost grew at a faster pace of 5.1 percent on a yearly basis, which was faster than the 3.4 percent increase seen in the fourth quarter of 2023, data published by Eurostat showed on Monday. The rate was also faster than economists' forecast of 4.9 percent.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.