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Tuesday 27.06.2017 | Name days: Malvīne, Malvis
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Hourly labour costs in Latvia reach EUR 7.50

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to Q2 the previous year, hourly labour costs grew by 45 cents or by 6.4 %, reaching EUR 7.50 per hour in Q2 2016. Labour costs have increased by 9.2 %.

Compared to Q2 2015, increase in the hourly labour costs was recorded in all sectors, except from the public administration, in which annual drop constituted 1.8 %, as well as energy and education, in which reduction comprised 0.4 % and 0.3 % in Q2 2016, respectively, according to the latest data from the Central Statistical Bureau of Latvia.

The sharpest rise in the hourly labour costs was recorded in other service activities (of 21.4 %), administrative and support service activities (13.2 %), construction (12.9 %), professional, scientific and technical activities (11.7 %), accommodation and food service activities (11.7 %), as well as water supply, sewerage, waste management and remediation activities (11.5 %).

As hourly labour costs are influenced not only by wages, salaries and other labour costs, but also by the number of hours worked, the sharp rise not always shows positive trend. In construction sector the decline recorded in the number of hours worked was faster than that observed in the labour costs – by 16.8 % and 6.1 %, respectively. In administrative and support service activities, as well as water supply; sewerage, waste management and remediation activities increase was recorded in both labour costs and hours worked. In other sectors indicating the greatest hourly labour cost increase, the labour costs grew, while the number of hours worked reduced during the year.

In sectors indicating hourly labour cost reduction, changes of the indicator were mainly affected by the increase in number of hours worked, not by the rise in labour costs. For example, in public administration the annual increase in the labour costs constituted 4.4 %, while the increase in the number of hours worked – 6.3 %, in education – 2.3 % and 2.5 %, respectively. Changes in the number of hours worked are influenced by various factor, e.g., changes in the number of employees or number of working days in the reference period.

The increase exceeding the national average indicator – 6.4 % – was recorded also in information and communication (of 10.5 %), trade and mining and quarrying (8.7 % in each), real estate activities (7.5 %), and manufacturing (6.9 %).

Similarly as in Q2 the previous year, the highest hourly labour costs were observed in financial and insurance activities (16.47 euros), information and communication (12.15 euros), energy (10.47 euros) and public administration (8.96 euros). The lowest hourly labour costs, in turn, were recorded in accommodation and food service activities (5.22 euros), arts, entertainment and recreation (6.22 euros), education (6.24 euros), other service activities (6.32 euros), as well as human health and social work activities (6.58 euros).

Ref: 102.109.109.5987


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