Hourly labour cost 15.6 pct higher in Q4 2017

According to the National Institute of Statistics (INS), in the fourth quarter of 2017 the adjusted hourly labour cost (working days adjusted) had a 1.29 percent increase rate from the previous quarter and a 14.29 percent increase from Q4 of 2016.

Against the same periods of reference, the change in the non-adjusted hourly labour cost had a similar trend with the adjusted form (2.37 percent and 16.65 percent respectively).

Compared to Q3 2017, the adjusted hourly labour cost increased in the majority of economic activities. The most significant increases were recorded in mining and quarrying (14.3 percent), in real estate activities (8.8 percent) and in financial and insurance activities (7.1 percent).

The most significant decrease of the hourly labour cost (working days adjusted) was in education (-24.1 percent), determined by the time actually worked increase (a phenomenon characteristic for the fourth quarter due to the start of a new school year).

Compared to Q4 2016, the adjusted increase of the direct costs component (wages and salaries) was of 1.22 percent, while the one concerning other costs (non-wages) was of 1.57 percent.

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Compared to the fourth quarter of 2016, the hourly labour cost increased in all economic activities. By main activities belonging to the economic sector (excluding activities of public administration, education, health and social assistance), working days adjusted, were observed in arts, entertainment and recreation (28.7 percent), mining and quarrying (21.5 percent) and administrative and support service activities (16.6 percent), mainly due to the application of legal provisions in force.

The lowest increases were registered in real estate activities (6.7 percent), in professional, scientific and technical activities (6.63 percent) and in electricity, gas, steam and air conditioning supply (6.4 percent).

In the budgetary sector, increases of the adjusted hourly labour cost were registered due to the application of legal basis on the remuneration of personnel paid from public funds, thus: by 27.5 percent in public administration, by 18.5 percent in health and social assistance and by 16.8 percent in education.