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September 24, 2021

0.3 pc drop in medium wage for July

According to the data issued yesterday by the INS (National Institute of Statistics), the medium wage has dropped with RON 5 (0.3 per cent) in June compared to the preceding month, reaching RON 1.606 net; the biggest wages were reported in the oil and natural gas extraction sectors (RON 4.049) and the smallest wages, in the hotel and restaurant sectors (RON 880).
“In June 2013, the medium wage reported both increases and decreases compared to the preceding month. The increases in the net medium wage reported in the economic sector, as compared to May 2013, resulted from occasional premiums (including performance bonuses) and net profit amounts and other types of amounts (including food vouchers), as well as increased production or incomes (depending on contracts). Net medium wage increases were also the result of laying off employees with lower wages in several economic sectors”, the press release also notes.
The most significant increases were reported in the drinks production sector (14 per cent) and the cigarette production sector (12.3 per cent), while the most significant decreases were reported in the car production sector (9.4 per cent) and the coal extraction sector (8.2 per cent). The public sector experienced slight increases in the net medium wage compared to the preceding month: in the public administration sector (0.2%) and the health and social services sector (0.6 per cent). Compared to June 2012, the net medium wage has increased by 3.5 per cent.
ETUI: After the crisis, poverty passed Bulgaria by and hit Romania
Between 2009 and 2013, prices were raised above the level of increased wages of Romanians, the hourly wage decreased dramatically, and the poverty risk went up, all the while Bulgaria dominates in the EU wage increase ranking, adevarul.ro reports. Between 2009 and 2012, Romanians’ wages increased on average by 12.9 per cent, but prices went up by 20.9 per cent, so the purchasing power decreased by 1.7 per cent, mainly due to austerity measures.
By comparison, Bulgaria’s purchasing power increased by 5.4 per cent, pulling her to the top of a wage increase ranking drafted by ETUI (The European Trade Union Institute). The ETUI study divides the evolution of net wages (income dynamic adjusted by inflation) into two time-periods: 2000-2008 and 2009-2012. The data leads to the conclusion that Romania’s biggest increase in the medium net income (12.2 per cent) occurred between 2000 and 2008; from 2009 until today, we have experienced one of the most sudden devaluations in this respect.

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