Smallest rise in labour costs recorded in Ireland

Hourly labour costs in Ireland rose slightly in 2012, according to new figures released today from Eurostat.

Austria recorded the highest hourly increase rising by 15.5%, while rates fell by 11.2% in Greece.

The highest average hourly rate of pay at €39 is in Sweden, while the lowest is €3.70 in Bulgaria.

Alicia O'Rourke of the EU Commission said a rise of 0.8% in the average hourly rate of pay in Ireland was the smallest increase across the European Union last year.

"Ireland actually features very well in these statistics because it has the smallest rise in labour costs with 0.8%."