European Payrolls Shrank in Fourth Quarter on Spain, Portugal
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European employment decreased in the fourth quarter as declines in hiring by companies in Spain and Portugal offset gains in Germany.
Payrolls in the euro region fell 0.2 percent from the third quarter, when they showed a similar drop, the European Union’s statistics office in Luxembourg said today. Labor-cost growth accelerated to 2.8 percent in the fourth quarter from 2.6 percent in the previous three months, a separate report showed.