Bulgaria is expectedly the EU country with the lowest average labor cost – merely EUR 3.7, according to Eurostat’s latest data.

In 2012, average hourly labour costs in the whole economy (excluding agriculture and public administration) were  estimated to be EUR 23.4 in the EU27 and EUR 28.0 in the euro area
(EA17).

However, this average masks significant differences between EU Member States, with hourly labour costs ranging from €3.7 in Bulgaria, EUR 4.4 in Romania, EUR 5.8 in Lithuania and EUR 6.0 in Latvia to EUR 39.0 in Sweden, EUR 38.1 in Denmark, EUR37.2 in Belgium, EUR 34.6 in Luxembourg and EUR 34.2 in France

Within the business economy, labour costs per hour were highest in industry (EUR24.2 in the EU27 and EUR 30.3 in the euro area), followed by services (EUR 23.7 and EUR 27.6 respectively) and construction (EUR 21.0 and EUR 24.3). In the mainly non-business economy (excluding public administration), labour costs per hour were EUR 22.9 in the EU27and €27.2 in the euro area.

Between 2008 and 2012, hourly labour costs in the whole economy expressed in euro have risen by 8.6% in the EU27 and by 8.7% in the euro area
.
Within the euro area, the largest increases were recorded in Austria (+15.5%), Slovakia (+13.8%), Finland (+13.7%) and Belgium (+13.1%), and the smallest in Portugal (+0.4%) and Ireland (+0.8%). The only decrease was observed in Greece (-11.2%).

For Member States outside the euro area, and expressed in national currency, the largest increases in hourly labour costs in the whole economy between 2008 and 2012 were registered in Bulgaria (+42.6%) and Romania (+26.7%), and the smallest in Latvia (+1.3%) and the United Kingdom (+5.2%). The only decrease was observed in Lithuania (-1.4%).

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!