Romania’s labor cost rose 12.7 pct y/y in Q1

Aurel Dragan 04/06/2018 | 11:08

The adjusted hourly labor cost (by working days adjusted) in the first quarter of this year registered an increase rate of 1.42 percent by comparison with the previous quarter and by 12.72 percent by comparison with Q1 2017.

Compared to QIV 2017, the hourly labor cost (working days adjusted) increased in the majority of economic activities. By main activities belonging to the economic sector, the most significant increases were recorded in construction (9.34 percent) and in information and communication (6.03 percent).

The most significant decreases of the hourly labor cost (working days adjusted) were in mining and quarrying (‐24.97 percent), largely followed by electricity, gas, steam and air conditioning supply (‐8.64 percent) and financial and insurance activities (‐5.44 percent).

In the budgetary sector were registered increases of the hourly labor cost (working days adjusted) due to the application of legal basis on the remuneration of the personnel paid from public funds, thus: by 13.46percent in education, by 8.26 percent in health and social assistance and by 5.63 percent in public administration.

Compared to the same quarter of the previous year, the hourly labor cost increased in the majority of economic activities. By main activities  belonging to the economic sector, the highest increases of the hourly labor cost (working days adjusted) were observed in construction (19.06 percent), in arts, entertainment and recreation (13.97 percent), in information and communication (13.91 percent), in accommodation and food service activities (13.30 percent) and in real estate activities (13.10 percent). The lowest increases were registered in financial and insurance activities (3.03 percent) and in electricity, gas, steam and air conditioning supply (4.84 percent).

The decrease of the hourly labor cost (working days adjusted) was recorded only in mining and quarrying (‐5.05 percent). In the budgetary sector were registered increases of the hourly labor cost (working days adjusted) due to the application of legal basis on the remuneration of the personnel paid from public funds, thus: by 23.57 percent in education, by 18.59 percent in public administration and by 14.01% in health and social assistance.

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