Europe's Huge Gulf In Labour Costs

In 2014, hourly expenditure on labour across the European Union amounted to €24.60. However, there is a massive gulf in labour costs between countries. A company can hire almost 12 Bulgarians for the cost of a single Dane, according to figures released by Eurostat.

Denmark's hourly labour costs increased 0.9 percent in 2014, reaching €40.30. By contrast, the average hourly cost of employing a worker in Bulgaria is just €3.80. It is important to mention the disparity in the cost of living in both countries, but nonetheless, Eurostat's data is an interesting illustration of the pace of economic development across the European Union.