Bulgaria's Labor Cost Marks 6,9% Increase in 2015

Business | June 19, 2015, Friday // 16:58|  views

Photo: BGNES

Bulgaria is among the leaders when it comes to increase in labor costs all across the EU. The country has marked a 6,9% increase in the first three months of 2015 as compared to the same period of 2014.

The data has been released in the preliminary data provided by the Bulgarian National Statistical Institute (NSI).

Meanwhile, the marked increase in industrial production is 5,6%, services marked the biggest shift upwards- 8,6%, and construction work comes close with 7,1%.

Statisticians have noted the biggest increase in several sectors. Administrative activities is number one with 15,2%, then comes Professional activities and scientific research with 12,1%, while Culture, sports and recreation takes the third spot with 10,1%.

Meanwhile, a decrease in labor costs has been noted in the Mining sector by 0,1%.

The hourly wage has marked an increase in the first trimester of 2015 by 7,3% as compared to the same period of 2014. Additional labor expenses, such as pension provisions and insurance installments have marked a 5% increase.  

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Tags: Bulgaria, labor cost, National Statistical Institute (NSI), industrial production, services, construction, research, culture

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