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Bulgaria Labor Cost Growth Quickens In Q4

Bulgaria's labor costs increased at a faster rate in the fourth quarter, preliminary data released by the National Statistical Institute showed Monday.

The headline labor cost index, excluding agriculture, fishing and private households with employed persons, increased 9.7 percent on an annual basis in the fourth quarter, faster than the 7.2 percent growth recorded in the third quarter.

The wage component of the headline index also rose 9.7 percent annually, while other costs of labor advanced 10.5 percent during the three-month period.

In the industrial sector, excluding construction, hourly wage costs grew 6.6 percent annually in the fourth quarter. Labor cots in the service sector, excluding public administration, climbed 17.4 percent.

There was a 9.6 percent year-on-year increase in labor costs in the construction sector during the quarter, the agency said.

by RTTNews Staff Writer

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