Bulgaria's total hourly labor cost rose by 5.1%

Preliminary data of Bulgaria's NSI for the Fourth Quarter of 2012 indicated that the total hourly labour cost rose by 5.1% compared to the Fourth Quarter of 2011. The total hourly labour cost grew by 2.9% in industry and by 9.1% in services. In construction the total hourly...

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Bulgaria's total hourly labor cost rose by 5.1%



Balkans.com Business News Correspondent - 20.03.2013

Preliminary data of Bulgaria's NSI for the Fourth Quarter of 2012 indicated that the total hourly labour cost rose by 5.1% compared to the Fourth Quarter of 2011. The total hourly labour cost grew by 2.9% in industry and by 9.1% in services. In construction the total hourly labour costs decreased by 2.4%.The breakdown by Bulgaria's economic activities showed that the highest annual growths in total labour costs were recorded in ‘Other service activities’ - 26.3%, ‘Wholesale and retail trade; repair of motor vehicles and motorcycles’ - 18.0%, ‘Real estate activities’ - 14.1% and ‘Accommodation and food service activities’- 13.8%. The highest decrease in total labour costs was observed in ‘Public administration and defence; compulsory social security’ by 6.6% and ‘Electricity, gas, steam and air conditioning supply’ by 3.9%.In the structure of the total labour costs, the wages and salaries costs per hour worked grew by 5.8% in comparison with a year earlier, while the other (non-wage) costs rose by 1.7%. Among the economic activities in the Fourth Quarter of 2012 compared to the Fourth Quarter of 2011 the growth rate of wages and salaries component ranged from (-6.1%) in ‘Public administration and defence; compulsory social security’ to 29.1% in ‘Other service activities’. Source; Statistical Office


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