Projections Show 9.3% Salary Rise for Bulgarian Workers in 2024
The Ministry of Finance anticipates a 9.3% increase in wages for Bulgarian businesses this year, as outlined in the latest Convergent Program of Bulgaria
In the first quarter of 2013 in comparison with the fourth quarter of 2012 the average monthly wages and salaries in Bulgaria decreased by 3.1% down to BGN 778.
The average monthly wages and salaries of the employees under labor contract in January was BGN 773, in February – BGN 766 and in March 2013 – BGN 796.
The flash data of the National Statistical Institute (NSI) was released Friday.
The highest decrease in wages and salaries was reported in "arts, entertainment and recreation" - 17.9%, in "education" - 10.1% and in "professional, scientific and technical activities" - 7.2%.
Compared to the first quarter of 2012, the average monthly wages and salaries in the first quarter of 2013 rose by 4.3%. The highest growth rates were recorded in "agriculture, forestry and fishing" - 21.7%, in "education" - 9.2% and in "public administration and defense; compulsory social security" - 6.5%.
The economic activities with the highest wages and salaries in the first quarter of 2013 were: "information and communication" – BGN 1 822, "electricity, gas, steam and air conditioning supply" – BGN 1 578, "financial and insurance activities" – BGN 1 447.
The lowest wages and salaries were recorded in: "accommodation and food service activities" – BGN 523, "administrative and support service activities" – BGN 526, and "other services" – BGN 555.
In comparison with a year earlier the average monthly wages and salaries in the public sector grew by 5.8%, while in the private sector - by 3.9%.
At the end of March 2013 the number of employees under labor contract increased by 10.5 thousands or 0.5% as compared to the end of December 2012, and reached 2.23 million. The highest increase was observed in economic activities "administrative and support service activities" - 5.7% and in "agriculture, forestry and fishing"- 3.8%.
The highest decrease of employees was recorded in "accommodation and food service activities" - 2.3% and in "construction" - 2.2%.
In the structure of employees by economic activities, the biggest relative share of employees was in "manufacturing" - 21.8% and in "wholesale and retail trade; repair of motor vehicles and motorcycles" - 17.2%.
At the end of March 2013, as compared to March 2012, the number of employees under labor contract declined by 24.9 thousands or 1.1%. The highest decrease in absolute figures was observed in economic activities "manufacturing" - 13.3 thousands and in "accommodation and food service activities" - 9.8 thousands.
In percentages the highest decrease was in "accommodation and food service activities" - 9.2% and in "construction" - by 5.6%.
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