Wages in the euro area rose by 2.3% in the fourth quarter

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The growth of hourly wages in the eurozone in the fourth quarter of 2018 in annual terms was 2.3%, just as in the previous quarter, Eurostat reported. In December, eurozone unemployment fell to its lowest level since October 2008, reaching 7.8% compared to 8.6% in December 2017. These data point to the preservation of a strong labor market, even with a decrease in production growth. In the fourth quarter, an increase in the vacancy rate to a record 2.3% was recorded from 2.1% a quarter earlier. Consumer prices rose in the fourth quarter by 1.9% in annual terms. The report of the statistical agency notes that active consumer spending can provide serious support for economic growth in the eurozone.

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