Regards 07/23 - The hour worked remains expensive in Luxembourg

In 2022, the average labour cost in Luxembourg is EUR 50.71 per hour worked. It is highest in the financial sector and lowest in hotels and restaurants and administrative and support services. The hourly cost had risen sharply between 2016 and 2020, by an average of 5.12% per annum, a finding which must however be qualified by the impact of the 2020 pandemic and the decrease in hours actually worked during this period. According to the latest estimates, the average hourly cost would have continued to rise by an average of 3.53% per year between 2020 and 2022 for the economy as a whole. Luxembourg has the highest hourly labour cost among the EU Member States.