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Saturday, 27.04.2024, 05:11
Baltic States record steep increases in labor costs in EU in Q4
BC, Riga, 19.03.2015.
Print version
Print versionAverage hourly labor costs in Latvia increased by 6.1% in the fourth quarter of 2014, compared to the respective period in 2013 – the third steepest increase across the European Union, according to the latest data from the EU's statistical office Eurostat. Estonia was even second, writes LETA.
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The steepest increases in average hourly labor costs in the fourth quarter of 2014 was registered in Romania – 7.9%, followed by Estonia – 6.5%, Latvia, as well as Lithuania – 5.7%, and Slovakia – by 5.1%.
Reductions in average hourly labor costs were registered in Portugal – 8.8%, Cyprus – 2.2%, Croatia – 0.5%, Italy – 0.3%, and Ireland – 0.1%.
Overall, average hourly labor costs increased 1.4% in the EU and by 1.1% in the euro area in the fourth quarter of 2014.
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