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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 10:24

Latvia records EU's steepest increase in labor costs in Q1

BC, Riga, 17.06.2014.Print version
Average hourly labor costs in Latvia increased 7% in the first quarter of 2014, compared to the respective period in 2013 – the steepest increase across the European Union, according to the latest data from the EU's statistical office Eurostat, cites LETA.

The steepest increases in average hourly labor costs in the first quarter of 2014 were registered in Latvia, Estonia – 6.8%, Romania – 5.3%, Poland – 4.2%, as well as Lithuania and Bulgaria – 3.6% each.

 

Reductions in average hourly labor costs were registered in Cyprus – 6.9%, Croatia – 1.7%, Ireland – 0.2%, and Italy – 0.1%.

 

Overall, average hourly labor costs increased 1.2% in the EU and by 0.9% in the euro area in the first quarter of 2014.






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