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International Internet Magazine. Baltic States news & analytics Wednesday, 19.06.2024, 21:43

Lithuania registers 3rd lowest hourly labor costs in EU

BC, Riga, 30.03.2015.Print version
In 2014, average hourly labor costs in Latvia were estimated to be EUR 6.6, which is the fourth lowest indicator in the European Union (EU), according to the latest data published by Eurostat. Lithuania had the third lowest indicator and Estonia – 10th, writes LETA.

The data exclude agriculture and public administration.


The lowest hourly labor costs were recorded in Bulgaria – EUR 3.8, Romania – EUR 4.6, Lithuania – EUR 6.5. Average hourly labor costs in Estonia reached EUR 9.8, which is the tenth lowest indicator in the EU.


Meanwhile, the highest hourly labor costs were registered in Denmark – EUR 40.3, Belgium – EUR 39.1, Sweden – EUR 37.4, and Luxembourg – EUR 35.9.


In 2014, average hourly labor costs in the EU were estimated to be EUR 24.6 in the EU, and EUR 29.2 in the euro area.


Compared with 2013, average hourly labor costs in Latvia have increased 6% since 2014, which is the second fastest growth in the euro area.


Meanwhile, Estonia registered a 6.6% increase, while Lithuania – 3.5%.


The data cover enterprises with ten or more employees.


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