Romania records largest increase in labor cost in the EU in Q1

19 June 2017

Romania recorded the highest hourly labor cost increase in the European Union in the first quarter of this year, namely 17.2%, compared to the same period of the previous year.

The growth was 10 times higher than the 1.7% growth recorded at the level of the European Union, according to EU’s statistical office Eurostat.

High increases in labor cost were also recorded in Hungary (11.7%), Bulgaria (10.1%), Lithuania (9.9%) and Latvia (9.1%) during this period. On the other side, labor cost declined in Finland (-2.7%), Luxembourg and the Netherlands (-0.1%).

In the euro area, labor cost advanced by 1.5% in the first three months of this year.

Depending on the economic sector, these costs increased in the EU by 1.5% in industry, 1.8% in construction, 1.6% in services, and 1.8% in non-business economy.

editor@romania-insider.com

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Romania records largest increase in labor cost in the EU in Q1

19 June 2017

Romania recorded the highest hourly labor cost increase in the European Union in the first quarter of this year, namely 17.2%, compared to the same period of the previous year.

The growth was 10 times higher than the 1.7% growth recorded at the level of the European Union, according to EU’s statistical office Eurostat.

High increases in labor cost were also recorded in Hungary (11.7%), Bulgaria (10.1%), Lithuania (9.9%) and Latvia (9.1%) during this period. On the other side, labor cost declined in Finland (-2.7%), Luxembourg and the Netherlands (-0.1%).

In the euro area, labor cost advanced by 1.5% in the first three months of this year.

Depending on the economic sector, these costs increased in the EU by 1.5% in industry, 1.8% in construction, 1.6% in services, and 1.8% in non-business economy.

editor@romania-insider.com

Normal
 

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