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August 10, 2022

Romania’s Q4 2015 rise of labour costs highest in EU

Romania saw the highest rise in the total labour cost in the EU28 in the fourth quarter 2015 compared to the similar period of 2014, shows data released on Friday by the European Statistical Office (Eurostat).
In Romania, the hourly labour cost advanced 11.4 percent, well above the 1.9 percent growth registered in the EU28 and of the 1.3 percent advance seen in the euro area. The only EU countries to register a decrease in the hourly cost of labour in Q4 2015 were Italy and Cyprus (both with a decrease of 0.8 percent), the Netherlands (- 0.4 percent) and Luxembourg (- 0.1 percent).
The advance in Romania’s labor costs is mainly due to the 19.5 percent growth in hourly labour costs in the non-business sector. In a breakdown by economy sectors, the hourly cost of labour increased 10.3 percent for services; 8.6 percent in constructions; and 7.7 percent in industry.
According to data released by the National Institute of Statistics (INS), the hourly cost of labour expressed as workday adjusted series advanced 6.54 percent in Q4 2015 compared to the same period of the previous year and by 11.42 percent year on year.


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