Euro area labor costs were up 4.6% YoY in Q3 2024, down from an upwardly revised Q2 2024 rate of 5.2% YoY (previous estimate was 4.7% YoY). Wage costs were up 4.4% YoY, down from 4.6% YoY in Q2 and 5.1% YoY a year ago. Labor costs are up around the same rate across all sectors with construction labor cost growth in a slight lead at 5.0% YoY compared to industry at 4.6% YoY and services at 4.5% YoY.