The 2023 labor cost per employee full-time equivalent (FTE) for European fasteners and screw machine products is most substantial in France at 74.7 thousand euros, with Sweden and Belgium trailing at 63.7 and 61.3 thousand euros respectively. Germany and Italy are moderately high, while Spain and the United Kingdom display middle-range costs. Eastern and Southern European countries such as Poland, Croatia, Romania, and Macedonia exhibit notably lower costs, with Macedonia being the lowest at 7.4 thousand euros. Forecasts for 2024 suggest a trend of gradual cost increases across all listed countries.
Future trends to observe:
- Potential labor cost increases driven by tightening labor markets in Western Europe.
- Investments in automation and advanced manufacturing techniques impacting labor costs.
- Considerations on geopolitical factors, such as regulatory changes post-Brexit, affecting the United Kingdom and wider EU economies.
- Inflationary pressures potentially contributing to cost escalations in emerging markets.
Top countries in Fasteners and Screw Machine Products Labour Cost Per Employee FTE by Country
| # | 10 Countries | Thousand Euros | Last Year | |
|---|---|---|---|---|
| 1 | 1 France | 74.7 | 2023 | View data |
| 2 | 2 Sweden | 63.7 | 2023 | View data |
| 3 | 3 Belgium | 61.3 | 2023 | View data |
| 4 | 4 Germany | 60.1 | 2023 | View data |
| 5 | 5 Italy | 54.7 | 2023 | View data |
| 6 | 6 Finland | 52.4 | 2023 | View data |
| 7 | 7 Spain | 43.1 | 2023 | View data |
| 8 | 8 United Kingdom | 40.6 | 2023 | View data |
| 9 | 9 Slovakia | 25.6 | 2023 | View data |
| 10 | 10 Portugal | 22.7 | 2023 | View data |
