Euro Area labor cost growth likely to soften in Q3

Euro Area labor costs are expected to drop in third quarter of this year from its previous value of 1.6% year on year basis.

There was slow growth in both components of labor costs such as wages and salaries on per hour work basis and non-wage costs.

"Euro area labour cost growth is expected to dip for second consecutive quarter to 1.2% yoy in Q3 2015", says Societe Generale in a research note.