Romania’s adjusted hourly labor cost went down by 2.5% in the first quarter of 2016 (Q1 2016) compared to the previous quarter.

However, when compared to the same quarter of 2015, the hourly labor cost increased by 10.4%, according to data released by the National Statistics Institute (INS).

“Compared to Q4 2015, the hourly labor cost (working days adjusted) decreased in the majority of economic activities. The most significant decreases were recorded in electricity, gas, steam and air conditioning supply (‐11.12%), financial and insurance activities (‐11.10%), and other service activities (‐10.17%),” INS announced.

However, there were also increases in some sectors, such as real estate activities (+5.84%), education (+4.71%), and accommodation and food service activities (+4.45%).

All economic sectors saw higher labor costs compared to the first quarter of 2015. The highest increases were registered in education (+23.07%), human health and social work activities (+22.30%), and real estate activities (+19.12%).

editor@romania-insider.com