Labour costs in Romania up by 9.73 pct in Q1 against last year

Labour costs increased year-on-year by 9.73 percent in the first quarter of 2016 and decreased by 2.87 percent compared to the previous quarter, the National Institute of Statistics (INS) informs.

In the first quarter of 2016, the hourly labour cost (working days adjusted) recorded a 2.50 percent decrease compared to the previous quarter. Year-on-year, the hourly labour costs increased by 10.36 percent.

According to the INS, compared to the last quarter of 2015, hourly labour costs (working days adjusted) dropped in most economic sectors. Most significant decreases were recorded in the sector of production and supply of electricity, gas, steam and air conditioning (-11.12 percent), followed by finance and insurance activities (- 11.10 percent) and other services (-10.17 percent).

The highest increase in labour costs (working days adjusted) was recorded in real estate activities (5.84 percent), education (4.71 percent) and hotels and food service activities (4.45 percent).

In the first quarter of 2016 the direct labour costs (wages) increased year-on-year by 10.38 percent and in non-adjusted form by 9.75 percent. Labour costs (non-wages costs) recorded a similar increase, namely by 10.33 percent and 9.69 percent, respectively.

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Georgeta Gheorghe