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January 22, 2021
BUSINESS

Romania, third in the EU based on labour cost increase

Romania ranks third in the European Union (EU) based on the increase of labour cost per hour, Eurostat informs. In Romania, the indicator rose by 4.5 pc, against an EU average of 2.7 pc.The total cost with labour includes salary and non-salary expenses, without incentives or expenses with recruitment, training or equipment. Romanian industry registered an advance of 4.5 pc of labour costs, formed of 4.5 pc salary and 4.4 pc non-salary costs. In the construction sector, all indices rose by 0.1 pc. Services reported 5.3 pc increases of both total and salary costs, while other costs soared by 5.2 pc. In the euro zone, the annual cost pf labour rose by 2.6 pc in Q1 this year.

The states with the highest increases of labour costs were Bulgaria (7.8 pc), Hungary (5.6 pc) and Romania, while decreases were reported only by Greece (-6.8 pc) and Ireland (-2.2 pc). Four countries did not report data: Belgium, Denmark, Italy and the United Kingdom.

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