Romania 4Q/09 Labor Costs Up 5.9% On Year - Eurostat

Bulgaria, whose labor costs grew by 11.3% on the year in the fourth quarter, posted the highest increase among member states, EU's statistics office Eurostat said.

In the EU bloc, labor costs were up 2.4% on the year in the fourth quarter, compared with a 2.9% annual growth in the previous quarter. Hourly wages and salaries rose 2.2% in the fourth quarter, while the non-wages component of labor costs was up 3%.

Annual decreases in hourly labor costs were observed only in Lithuania (-10.8%), Estonia (-5.8%), Latvia (-5.6%) and Slovenia (-3.6%).

Broken down by economic activities, labor costs in the EU grew by 1.9% in industry, 3.1% in constructions and 2.5% in services.

In Romania, labor costs in industry were up 8.3% on the year in the fourth quarter of 2009, while labor costs in constructions and services rose 4.9% and 2.6%, respectively.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.