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March 23, 2023

Romania, 3rd among EU countries with high workforce costs

According to data released yesterday by Eurostat, Romania’s total workforce cost has reported the third highest increase among EU Member States in the second quarter of this year, as compared to the same period last year. In Romania, the hourly rates for workforce members have increased by 6 percent, high above the 0.9 per cent increase reported in the European Union and the Euro area. Estonia and Lithuania are the only two countries that reported higher increases than Romania, with 7.7 per cent and 6.5 per cent, respectively. The only EU Member States where the rates for workforce members decreased in the second quarter were Slovenia (-5.9 per cent), Cyprus (-4.6 per cent), Croatia (-0.6 per cent) and Spain (-0.3 per cent). The climb of workforce costs in Romania resulted mainly from the 15.1 per cent increase of hourly rates for workforce members in the non-business sector, a category in which Romania reigns at EU level.

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