Hourly labour costs in Hungary up 4.8% y/y in Q4 2012 - Eurostat.

By bne IntelliNews March 18, 2013
Hourly labour costs in Hungary increased by 4.8% on the year in the fourth quarter of 2012, according to data, published by the European statistics office, Eurostat. Hungary had the fourth highest annual rise in labour costs in the EU after Romania, Estonia and Bulgaria. In Q3 labour costs in Hungary increased by 5.4% y/y, following a 4.3% rise in Q2. The two main components of the labour cost index are expenses for wages and salaries that increased by 4.6% in Q4 in Hungary and non-wage costs that rose by 6.3% y/y. Labour costs in Hungarys business sector grew by 6.5% y/y, which was the second highest increase among EU member states. At the same time the non-business sector saw a marginal 0.2% y/y growth. By type of main economic sectors, labour costs increased the most in the industry sector registering an annual rise of 7.8% in Q4, followed by a 5.9% y/y growth in the services sector and a 1.9% y/y rise in the construction sector.
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