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Thursday, 25.04.2024, 16:50
Latvia registers the highest rise of labor costs in EU in Q3
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An identical growth was also registered in Bulgaria.
High rises of labor costs were registered also in Romania – 7.3%, Estonia – 6.1%, Lithuania – 5.7%. Meanwhile, reduction of labor costs has been registered only in Portugal – 2.8%, Slovenia – 1.5%, Cyprus – 0.5%, as well as Italy and Luxembourg – 0.4%.
The average hourly labor costs rose by 1.1% in the eurozone and by 1.8% in the EU in the third quarter of this year.
In the EU, the total hourly labor costs in the third quarter of this year grew on average by 1.6% in manufacturing, by 2.3% in construction and by 2% in services sector.
In Latvia hourly labor costs in manufacturing and services sector rose by 7.4%, and in construction sector by 10.7%.
Meanwhile, in Estonia, labor costs in manufacturing increased by 6.7%, in construction declined by 1.3% and in services sector grew 6.6%.
At the same time, in Lithuania, labor costs in manufacturing increased by 7.7%, in construction by 1.9% and in services sector by 6.6%.
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