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București
marți, 15 iunie 2021 - 18:43

Romania’s hourly labour cost dropped 2.58% in Q1 2021

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The National Institute of Statistics (INS) published on Friday Romania’s hourly labour cost for the first quarter of 2021 and recorded a decrease of 2.58% over the previous quarter and a 5.56% increase compared to the same period of 2020, adjusted for a number of working days.

Over the fourth quarter of 2020, the hourly labour costs (working days adjusted) decreased in most economic activities, according to a press release. 

“The most significant decrease of the hourly labour cost (working days adjusted) were found in financial and insurance activities (-8.88%) and in electricity, gas, hot water and air conditioning supply (-8.34%), as well as in the arts, cultural and recreational activities (-8.08%),” stated INS. 

The highest increase of the hourly labour cost with working days adjusted was recorded in education (2.48%) and over the previous quarter, the direct costs components (salaries) decreased by 2.56%, and the indirect costs (non-salaries) by 3.01%.

INS explained that compared to the same quarter of 2020, the hourly labour cost in adjusted form depending on the number of working days increased in most economic activities.

National Institute of Statistics added that, over the same quarter of the previous year, the direct costs component (wages) increased by 5.59%, and the component of indirect costs (non-wage costs) by 4.96%.

The first quarter of 2021 saw a decrease in the hourly labour cost (working days adjusted) in accommodation and food service activities (-3.37%) compared to the same period of 2020.

The economic units were strongly affected by the suspending/ceasing of the related industries by decreasing the hours actually worked in the context of the COVID-19 pandemic.