Bulgarian Businesses Report Higher Labor Costs in Q1 2014

Business | June 18, 2014, Wednesday // 12:15| Views: | Comments: 0
  • Send to Kindle
Bulgaria: Bulgarian Businesses Report Higher Labor Costs in Q1 2014 File photo.

The total hourly labor cost has risen by 3.6% in Q1 2014 compared to the same period of 2013, according to the preliminary data of Bulgaria's National Statistical Institute.

The total hourly labor cost grew by 5.1% in industry, by 1.3% in services and by 4.4% in construction, the NSI reports.

The breakdown by economic activities showed that the highest annual growths in total labor costs were recorded in the sectors of Water supply, sewerage, waste management and remediation activities - 10.6%, Administrative and support service activities – 9.1%, and Mining and quarrying – 8.0%.

A decrease in total labor costs was observed in real estate activities by 16.4% and in professional, scientific and technical activities by 4.3% .

In the structure of the total labor costs, the wages and salaries costs per hour worked have gown by 2.9% in comparison with a year earlier, while the other (non-wage) costs rose by 7.5%.

Among the economic activities in the first quarter of 2014 compared to the first quarter of 2013 the growth rate of wages and salaries component ranged from -17.7% in real estate activities to 9.4% in water supply, sewerage, waste management and remediation activities.

Business » Be a reporter: Write and send your article
Tags: hourly labor cost, industry, services, construction, National Statistical Institute, wages, salaries
Expats.bg All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (0)
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria