The Price of Labor of a Worker in France is 7 Times Higher than in Bulgaria
The price of labor of a worker in France is seven times higher than that of his colleague in Bulgaria, France's Figaro reports, citing Eurostat's European Statistics Office last year. After the crisis, however, the gap has diminished.
Price of labor is a key factor for competitiveness, which businesses are watching very carefully, and often predetermines the choice of destination for investment, the French edition notes. Data released by Eurostat confirms the large gap between EU countries, although it is decreasing, Figaro adds.
The lowest average labor cost (excluding workers in agriculture or administration) in the EU in Bulgaria is € 4.90 per hour, followed by Romania with € 6.3. The highest is the labor cost in Denmark with € 42,50 per hour. The average labor cost in France is 36 euros per hour.
In 2017, labor costs grew by a total of 2.3 per cent in the EU, and only by 1.9 per cent in the euro area.
In non-euro area countries, the highest rise in labor costs was recorded in Romania (up 17.1 per cent) and in Bulgaria (12 per cent).
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