Total hourly labour cost in Bulgaria up 5.8% y/y in Q4 2015

 Preliminary data of the Bulgaria’s National Statistical Institute for the fourth quarter of 2015 indicate that the total hourly labour cost rose by 5.8% compared to the fourth quarter of 2014. 
The total hourly labour cost grew by 8.1% in industry, by 4.6% in services and by 11.0% in construction.
The breakdown by economic activities showed that the highest annual growths in total labour costs were recorded in ‘Administrative and support service activities’ - 14.2%, ‘Real estate activities’ and ‘Construction’ - 11.0%. The lowest increase in total labour costs was observed in ‘Water supply, sewerage, waste management and remediation activities’ and ‘Transportation and storage’ by 2.3% and 2.5% respectively. Decrease by 0.6% in total labour costs was observed in ‘Accommodation and food service activities’.
In the structure of the total labour costs, the wages and salaries costs per hour worked grew by 5.9% in comparison with a year earlier, while the other (non-wage) costs rose by 5.2%. Among the economic activities in the fourth quarter of 2015 compared to the fourth quarter of 2014 the growth rate of wages and salaries component ranged from 0.1% in ‘Accommodation and food service activities’ to 14.8% in ‘Administrative and support service activities’.
The Labour Cost Index is a short-term indicator measuring the quarterly development of hourly labour costs incurred by the employers as a result of engaging the labour work force. The Quarterly Survey on employees, hours worked, wages and salaries and other expenditures paid by the employer is the main source used for the labour cost index data calculation.

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