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'.
- » Bulgarian Regional Minister: Section of Struma Motorway to be Launched on Friday
- » Energy Watchdog Chair – Further Postponement of New Power Prices Is Impossible
- » Bulgaria’s May Gross Foreign Debt Down 4% from 2014
- » Industry, Retail Lead Drop in Bulgaria’s Business Confidence Index
- » Majority Stake in Bulgarian Software Company Fadata Bought by British Insurance Co, US PE Firm
- » Bulgarian Employers, Trade Unions to Protest Planned Power Price Hike