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.

Related Articles

Assets of Hungarys investment funds up 3.2% m/m in Feb 2013.

Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more

Hungary's number of employees down 0.6% y/y in Jan 2013.

The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more

Hungarys MVM clears deal for purchasing E.ONs local units.

The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more