Europe’s Huge Gulf in Labor Costs

April 8, 2015 Updated: April 8, 2015

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

Denmark’s hourly labor costs increased 0.9 percent in 2014, reaching 40.30 euros. By contrast, the average hourly cost of employing a worker in Bulgaria is just 3.80 euros.

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.