Latest News  

Romania and Bulgaria registered the lowest hourly labor costs in EU in 2016

Romania and Bulgaria registered the lowest hourly labor costs in the European Union in 2016, with 5.5 Euro for Romania, respectively 4.4 Euro hourly in Bulgaria, the latest Eurostat statistics shows. The gap among the EU states is obvious, with the highest hourly labor costs registered in Denmark (42 Euro) and Belgium (39.2 Euro).

2017-04-06 21:57:48

In 2016, average hourly labour costs were estimated at EUR 25.4 in the EU-28 and at EUR 29.8 in the euro area (EA-19). However, this average masks significant gaps between EU Member States, with hourly labour costs ranging between 4.4 Euro and 42.0 Euro.

Other states which posted high hourly labor costs are France (EUR35.6) and Sweden (EUR38), while Hungary (8.3 Euro) and Lithuania (7.3 Euro) were among the states with the lowest hourly labor costs. For member states outside the euro area, the largest rises in hourly labor costs were registered in Romania (12.7 per cent) and Bulgaria (7.8 per cent), and the smallest increases in the United Kingdom (1.5 per cent) and Denmark (1.9 per cent).

When comparing labour cost estimates in euro over time, it should be noted that data for those Member States outside the euro area are influenced by exchange rate movements, Eurostat data shows.

In 2016, average hourly labour costs in the whole economy (excluding agriculture and public administration) were estimated to be 25.4 Euro in the European Union (EU) and 29.8 Euro in the euro area. When comparing labour cost estimates in euro over time, it should be noted that data for those Member States outside the Euro area are influenced by exchange rate movements.

Also, recently, according to a study conducted by KPMG, Romania is on the penultimate place out of 20 European Union countries regarding the minimum wage, with 323 Euro worth 235 Euro, followed by minimum wage. The last place in Europe, according to the same study, is occupied by Bulgaria, with Latvia and Lithuania with 380 Euro each, Czech Republic with 407 Euro, Hungary with 409 Euro. The On the other hand, Luxembourg has the highest minimum salary, with EUR 1,999, followed by Ireland with EUR 1,776 and Germany with EUR 1,772. The fourth and fifth place are occupied by Netherlands with EUR 1,552 and France with EUR 1,480.


0 COMMENTS ^ Go back to Top
WRITE A COMMENT ^ Go back to Top
 
Your email address will not be published.
Nickname
Email
Comment
Validation Code
   
 
 
NEWS
Cushman & Wakefield Echinox: StreamWIDE joins the new IT hub created in the Timpuri Noi Square project

StreamWIDE, a company specialized in the software and telecommunications industry, realocates its office in Bucharest in the Timpuri Noi Square project, joining the new IT hub created in the business park devel

 Read Full article »
CBRE: Office deliveries expected to bring new stock of 635.00 sqm, Bucharest to reach 3.9 mln sqm modern office spaces

During 2020–2021 to approx. 635,000 sqm of modern office space are expected to be delivered on market, increasing the Bucharest modern stock at approx. 3.9 million sq m, a step closer to a new a threshold and

 Read Full article »
Uber opens at Bucharest the largest support center to drivers and business partners in CEE

Uber company launched this week in Bucharest the largest center in Central and Eastern Europe that offers assistance to drivers and business partners in Romania, a center where they can contact directly Uber re

 Read Full article »
Samsung and Orange Romania activated the 5G VR Live streaming at Untold Music Festival in Romania

Samsung Electronics and Orange Romania have successfully deployed a 5G New Radio (NR) network to demonstrate a series of 5G use cases at Untold Festival 2019, the largest annual dance music festival in Romania,

 Read Full article »
MVP Lab in Sibiu named as one of Europe's best in the "Ones to Watch" list at European Business Awards

Ropardo MVP Lab has been named as ‘One to Watch' in Europe in a list of business excellence published by the European Business Awards, one of world's largest and longest running business competitions.

 Read Full article »
Endava marks one year since IPO

Endava, one of the most important software companies, present on the local market with 7 delivery centers, reaches an almost double capitalization, 2.07 billion USD, on July 26, 2019, one year after listing. Th

 Read Full article »
Infosys opens cyber defence centre in Bucharest

Infosys, a global leader in next-generation digital services and consulting, announced the launch of its Cyber Defence Centre in Bucharest, Romania. The Defence Centre is an expansion of services delivered thro

 Read Full article »
QuEST Global completes integration of IT Six Global Services

QuEST Global, a global product engineering and lifecycle services company, has successfully completed the integration of IT Six Global Services SRL. QuEST Global acquired IT Six, a software engineering services

 Read Full article »
RE MAX Romania opens three more offices

RE/MAX Romania has expanded its network, adding three new offices – RE/MAX Partners in Cluj, RE/MAX Quality in Sibiu and RE/MAX Prestige in Targu Mures.

 Read Full article »
Microsoft and OpenAI form exclusive computing partnership to build new Azure AI supercomputing technologies

Microsoft Corp. and OpenAI have partnered to further extend Microsoft Azure's capabilities in large-scale AI systems, according to a release of Microsoft.

 Read Full article »
 
 
 
MOST READ ARTICLES
» The value proposition of HR in 2019
» ROMANIAN OUTSOURCING AWARDS FOR EXCELL...
» Academic efforts to grow the employee ...
» Romanian Outsourcing Summit 2016: Walk...
» Iorgulescu, ABSL: Desperately needing ...
» Intel might close the Bucharest office...
» Office Depot: An ambitious growth
» Academic efforts to grow the employee ...
» SAP's ten prediction for HR in 2018
» Noni Jain, Wipro Europe: It is fundam...
 
EDITOR CHOICE
Workplace of the Future conference to take place on November 20th at Bucharest

The Diplomat-Bucharest together with Outsourcing Today organize the 3rd Edition of WORKPLACE OF THE FUTURE, on 20th of November 2019, in Bucharest, at Capital Plaza Hotel.

 Read Full article »
Strategic Talent Acquisition at People Empowering Business Forum on October 30 in Bucharest

Latest trends like demographic upheaval, globalization, digital technology, and changing social values and worker expectations, are disrupting business models and radically changing the workplace. These are req

 Read Full article »
Informal IT School and UiPath launch an educational program for RPA development to start in October

Informal IT School announced a partnership with UiPath to launch an RPA development educational program of five months, 100 hours of courses, five days a week. The program will run in Cluj-Napoca.

 Read Full article »
Impact Hub Bucharest joins 3house to manage three coworking spaces in the city

Impact Hub Bucharest, a coworking spaces manager and developer of accelerator programs and events merged with 3house, a new concept of workplace launched in 2018. By this, Impact Hub reaches 3 locations and 6.7

 Read Full article »
JLL: Total office space in Bucharest to reach 3 million sqm

The second quarter of 2019 reconfirmed the increased interest for the office market in Romania. Over 115,000 square meters of office space were leased over this period at the national level, a value similar wit

 Read Full article »
Latest News  
 
about us | newsletter | contact | members area | GDPR policy
Copyright © 2015 by Diplomat Media Events Design by Diplomat Media Events