Hourly Labor Cost in Bulgaria Runs Up in Q4 2013

Business | March 19, 2014, Wednesday // 16:01| Views: 1068 | Comments: 0
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Bulgaria: Hourly Labor Cost in Bulgaria Runs Up in Q4 2013

The total hourly labor cost in Q4 2013 has risen by 4.3% compared to Q4 2012, according to the preliminary data of Bulgaria's National Statistical Institute.

The total hourly labor cost grew by 4.4% in industry and by 4.8% in services. In construction the total hourly labor costs rose by 4.2%.

The breakdown by economic activities showed that the highest annual growths in total labor costs were recorded in 'Wholesale and retail trade; repair of motor vehicles and motorcycles'-12.3%, 'Mining and quarrying'- 8.9% and 'Education'-8.4%, the NSI reports.

The highest decrease in total labor costs was observed in 'Arts,entertainment and recreation' by 12.8% and 'Other service activities' by 8.8%.

In the structure of the total labor costs, the wages and salaries costs per hour worked have grown by 4.0% in comparison with a year earlier, while the non-wage costs rose by 6.2%.

Among the economic activities in the fourth quarter of 2013 compared to the fourth quarter of 2012 the growth rate of wages and salaries component ranged from (-14.3%) in 'Arts, entertainment and recreation' to 11.7% in 'Wholesale and retail trade; repair of motor vehicles and motorcycles'.

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Tags: hourly labor cost, National Statistical Institute, NSI, industry, construction
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