Eurostat: Romania posts highest labour cost rises in Q3
December 14, 2008
Romania posted 21.2 percent rise in the hourly labour cost in an adjusted from (by the number of weekdays), in the third quarter of 2008 compared to the same period last year, with this being the highest rise recorded in the 27 member states of the European Union, show figures released by the European Statistics Office (Eurostat) on Friday.
The lowest increase in the hourly labour costs was posted by Germany and Sweden with a rise of 2.5 percent each.
Overall in the EU, the hourly labour cost was up by 4.1 percent in the third quarter of 2008 from the same period last year, after having posted 3.6 rise in the second quarter.
By sectors of activity, the hourly labour cost in the EU grew at an annual rate of 4.2 percent in industry, 3.8 percent in construction and 4.0 percent in the services sector. This compares to the hourly labour cost in Romania that grew at an annual rate of 22.3 percent in industry, 23.4 percent in construction and 20.1 percent in services.
Figures supplied by the National Institute of Statistics show that the adjusted quarterly hourly labour cost index was up 19.39 percent in this Q3 compared to the same quarter last year and by 3.11 percent on the previous quarter.
The economic operators surveyed by the National Commission on Projection anticipate that the real unitary labour cost in the full-2008 will drop by 3.2 percent from last year. The Romanian industrial labour costs diminished by 3.8 percent in the nine months from Jan.-Sept. last year as a result of the fact that the real gross salary dynamic was below the labour productivity levels. AGERPRES
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