The European economy has experienced significant fluctuations in recent years, influenced by factors such as inflation, unemployment, and GDP growth. These economic conditions have a profound impact on average hourly wages across Europe. According to data from Eurostat, the statistical office of the European Union, we can gain valuable insights into the relationship between economic conditions and average hourly wages.

Recent data from Eurostat indicate that the European Union’s seasonally adjusted unemployment rate declined to approximately 5.9% as of December 2024, compared to 6.1% a year earlier.

With the growing unemployment rates due to the state of the global economy, it has only become common for individuals to start businesses.