Belgium’s Wage Costs on the Rise: An Analysis by Securex
In 2023, companies in Belgium paid an average of 27.44 euros in wage costs per hour actually worked, according to HR agency Securex. This calculation was based on data from 20,847 companies. The amount increased by 9.1% compared to the previous year. Securex calculated the wage costs per hour by dividing the total annual wage costs by the number of hours worked by all employees, including those in flexible contracts like student workers. Companies in Brussels had the highest average wage costs per hour worked at 31.45 euros, followed by companies in Flanders with 29.10 euros, and Wallonia with an average amount of 25 euros.
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The increase in wage costs per hour in Belgium is attributed to wage indexations and not decreased hours worked by employees. This shows that companies are willing to pay their employees more despite economic challenges faced globally.
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