EUROPE – JOB VACANCY RATE UP IN Q4

The job vacancy rate in the euro area (EA19) was 1.7% in the fourth quarter of 2016, up from 1.6% recorded in both the previous quarter and the fourth quarter of 2015, according to figures published by Eurostat, the statistical office of the European Union.

The job vacancy rate in the EU28 was 1.8% in the fourth quarter of 2016, up from 1.7% in the fourth quarter of 2015 and stable compared with the previous quarter.
In the euro area, the job vacancy rate in the fourth quarter of 2016 was 1.3% in industry and construction and 2.0% in services. In the EU28, the rate was 1.4% in industry and construction and 2.1% in services.

Among the member states for which comparable data are available highest job vacancy rates in the fourth quarter of 2016 were recorded in the Czech Republic (3.0%), Belgium (2.9%), Germany (2.6%) and the United Kingdom (2.5%). Compared with a year ago, the job vacancy rate in the fourth quarter of 2016 rose in 23 member states, remained stable in four and fell in Cyprus (-0.1 percentage points).

Data from Eurostat also showed that hourly labour costs rose by 1.6% in the euro area (EA19) and by 1.7% in the EU28 in the fourth quarter of 2016, compared with the same quarter of the previous year. The two main components of labour costs are wages & salaries and non-wage costs.

Source: staffingindustry.com