Hourly labour costs in Bulgaria up 5.9% y/y in Q3 2012 - Eurostat.

By bne IntelliNews December 18, 2012
Hourly labour costs in Bulgaria increased by 5.9% on the year in the third quarter of 2012, data by EUs statistics office, Eurostat, showed. Bulgaria had the third highest annual rise in labour costs in the EU after Estonia and Romania. In Q2 labour costs in the country increased by 4.8% y/y, following a 6% hike in Q1. The two main components of the labour cost index are expenses for wages and salaries that increased by 6.6% in Bulgaria in Q3 and non-wage costs that rose by 2.3% y/y. Labour costs in Bulgarias business sector were 7.1% higher on the year in Q3 and in the non-business sector they were 2.5% higher. By type of main economic sectors, labour costs increased the most in the services sector registering an annual rise of 11.2% in Q3, followed by a 2.3% y/y growth in the industry sector, while the construction sector reported a 0.9% drop in labour costs.
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