Romania’s hourly labor cost, up 15% in third quarter

The hourly labor cost, an indicator of wage burden for employers, was 14.7% higher in the third quarter of this year compared to the same period last year. The highest increases were recorded in education, real estate, and healthcare, according to data published by the National Statistics Institute (INS). The hourly labor cost went up by 34.4% in the education sector, by 30% in real estate, and by 28.2% in healthcare and social assistance. Only the mining and quarrying sector recorded a decrease of 2.5% during the same period. In the second quarter of the year, the growth rate of labor costs was 12% compared to the same period of 2015. editor@romania-insider.com