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Bulgaria Had Lowest Hourly Labor Costs in EU in 2014, at EUR 3.8
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Bulgaria remained the EU Member State with the lowest hourly labor costs in 2014, according to Eurostat data.
Bulgaria’s hourly labor costs increased by 2.7% to EUR 3.8 per hour in 2014, against an annual increase of 1.1% registered in the euro area and an annual increase of 1.4% recorded in the EU-28.
In 2014, average hourly labor costs in the whole economy (excluding agriculture and public administration) were estimated to be EUR 24.6 in the EU-28 and EUR 29.2 in the euro area (EA-18).
The lowest hourly labor costs were recorded in Bulgaria (EUR 3.8), Romania (EUR 4.6), Lithuania (EUR 6.5) and Latvia (EUR 6.6), while the highest rates were registered in Denmark (EUR 40.3), Belgium (EUR 39.1), Sweden (EUR 37.4) and Luxembourg (EUR 35.9).
Within the business economy, labor costs per hour were highest in industry (EUR 25.5 in the EU-28 and EUR 32.0 in the euro area), followed by services (EUR 24.3 and EUR 28.2 respectively) and construction (EUR 22.0 and EUR 25.8). In the mainly non-business economy (excluding public administration), labor costs per hour were EUR 24.7 in the EU-28 and EUR 29.1 in the euro area in 2014.
Within the euro area, the largest increases were recorded in Estonia (+6.6 %), Latvia (+6.0 %) and Slovakia (+5.2 %). Decreases were observed in Cyprus (-2.8 %), Portugal (-0.8 %) and Ireland (-0.2 %).
Labor costs are made up of wages and salaries plus non-wage costs such as employers' social contributions. The share of non-wage costs in the whole economy was 24.4 % in the EU-28 and 26.1 % in the euro area, with the lowest in Malta (6.9 %) and Denmark (13.1 %) and the highest in Sweden (31.6 %) and France (33.1 %).
The share of non-wage costs in Bulgaria in 2014 was 16%, compared to a share of 24.4% in the EU-28 and a share of 26.1% in the euro area.
The highest shares of non-wage costs were registered in France, at 33.1%, and in Sweden, at 31.6%.
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