“…However the measured cost has changed in recent studies, partly because of methodological issues, partly because these studies focused on the last wave of exemptions, targeted on relatively higher wages (between 1.3 and 1.6 times the minimum wage), which are probably less efficient. Among the seven studies published since 2004 and reviewed by Bunel et al (2012), only one puts the value below €24,000, while the other six present point estimates higher than €38,000 per job. In their study, Bunel et al (2012) conclude that the cost per directly created job is comprised between €39,000 and €48,000.…”