News

2019.06.18 14:00

Hourly labour costs rise 5.4 percent in Lithuania, faster than across EU

LRT.lt 2019.06.18 14:00

Average hourly labour costs in Lithuania grew 5.4 percent over January-March, faster than on average in the European Union, but slower than in the two other Baltic countries.

According to Eurostat, the European Union’s statistics office, hourly labour costs rose 2.4 percent year-on-year in the eurozone in the first quarter and 2.6 percent across the entire EU.

In Latvia, the growth was 8.5 percent and in Estonia, 7.5 percent.

The biggest rise in average hourly labour costs occurred in Romania, 16.3 percent, and Bulgaria, 12.9 percent. Greece was the only EU country where it declined, by 0.2 percent.

Germany and Spain saw labour costs rise by 2.5 percent, Italy by 2.6 percent and France by 2.7 percent.

The two main components of labour costs are wages and salaries, and non-wage costs. In the Eurozone, the costs of wages and salaries grew by 2.5 percent, while non-wage costs rose by 2.2 percent. Within individual sectors, hourly labour costs rose by 2.5 percent in industry, by 2.3 percent in construction and 2.4 percent in services.