labor costs

Labor costs rose over 10% in Romania in 2016, reaching EUR5.40 per hour, which translates into the highest growth rate in the European Union, placing Romania 27th among the EU28, according to data by Germany’s Federal Statistical Office (Destatis).

Romania (EUR5.5) and Bulgaria (EUR4.4) registered the lowest hourly labor costs in the European Union in 2016, while the highest hourly labor costs were registered in Denmark (EUR42) and Belgium (EUR39.2), according to Eurostat data.

Total hourly labor costs in the Romanian economy rose 5% on the year in April to June, the second-biggest increase in the European Union, official data showed Tuesday.

Total hourly labor costs in the Romanian economy rose 5.2% on the year in the fourth quarter of 2009, the fifth-biggest annual growth in the European Union, official data showed Wednesday.

Romanian Prime Minister Calin Tariceanu said he is convinced the labor force in Romania will not continue to remain cheap, but several sectors of activity need to be developed, even the research sectors, areas in which Romania needs to become competitive.