Estonia Leads Eurozone in Labor Cost Growth

ERR - The cost of employing workers in Estonia rose 7.2 percent between the final quarters of 2010 and 2011, the biggest jump in the Eurozone.

Among all 27 EU member states, only Bulgaria and Romania showed a faster rise, coming in at 12.6 percent and 8.6 percent, respectively, according to Eurostat.

Ireland and Portugal occupied the other end of the spectrum, both showing labor cost decreases of 1.7 percent.

Labor costs are made up of wages and salaries combined with non-wage costs such as taxes and benefits.

The average year-on-year rise in labor costs in the Eurozone last quarter was 2.8 percent, while the figure for the EU27 was 2.7 percent.