The total cost of labor in Romania registered the highest increase among the Member States of the European Union (EU), in the fourth quarter (Q4) of 2019, compared to the similar period of 2018, according to data published by the European Office for Statistics (Eurostat) on Tuesday.
The hourly cost of labor increased during October-December 2019 by 2.7% in the European Union and by 2.4% in the euro area, compared to the fourth quarter of 2018. In the third quarter of 2019, an advance of 2.9% in the EU and 2.6% in the euro are were registered, according to Agerpres.
In the fourth quarter of 2019, the most significant annual advance was reported in Romania (12%) and Bulgaria (11.9%), and the slowest growth rate was in Luxembourg (0.4%).
In the fourth quarter of 2019, the advance of labor costs in Romania is mainly due to the 12.5% increase in the hourly cost of labor in the non-business field.