Romania’s hourly labor cost up 15.6 pct in the second quarter

In the second quarter of 2018, the hourly labor cost in adjusted form recorded a growth rate of 9.36 percent compared to the previous quarter and of 15.6 percent compared to the same quarter of the previous year.

Compared to the first quarter of 2018, the most significant increases of the hourly cost of workforce were extractive industry (20.47 percent), the production and supply of electric and thermal energy, gas, hot water and air conditioning (19.63 percent) and  financial intermediation and insurance (19.09 percent).

The smallest increases in the hourly cost of the workforce took place in construction (2.35 percent) and in professional, scientific and professional activities technical (3.14 percent).

In the budget sector, the most important in health and social care by 21.19 percent, in the education by 13.55 percent and in public administration with 5.82 percent.

In the second quarter of 2018, the growth of direct expenses (wages) over last quarter was 9.35 percent, and the inrease of indirect component (non-salaries) was 9.66 percent.

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 Compared to the same quarter of the previous year, hourly labor cost a had its highest increase increased in information and communications (19.11 percent), real estate transactions (18.32 percent) and construction (17.98 percent).

The economic sectors with the lowest increases have was extractive industry (6.32 percent), activities of administrative services and support services (10.49 percent), entertainment, cultural and entertainment activities recreation (10.52 percent) and manufacturing (10.53 percent).

In the budget sector the y-o-y in second quarter reached 33.15 percent in health and social care, 21.7 percent in education and 19.5 percent in public administration.