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Ceturtdiena 30.03.2017 | Name days: Nanija, Ilgmārs, Igmārs
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Hourly labour costs in Latvia reach EUR 7.09

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to Q2 2014 hourly labour costs in Q2 2015 grew by 52 cents per hour or by 7.9%, reaching EUR 7.09. According to seasonally adjusted data, labour costs have grown by 7.7% in Latvia.

The most notable increase in hourly labour costs was recorded in real estate activities – of 11.2%, in information and communication sector – of 10.9%, in trade – of 10.1%, in arts, entertainment and recreation – of 9.8%, as well as in manufacturing – of 9.2%. Rise in labour costs in these sectors was affected by growth in both wages and salaries, as well as in irregular premiums and bonuses. In manufacturing and real estate activities growth in hourly labour costs was also promoted by decrease in the number of hour worked – of 3.8% and 2.5%, respectively, according to the latest data from the Central Statistical Bureau of Latvia.

The smallest growth in the hourly labour costs was recorded in water supply, sewerage, waste management and re-mediation activities – 4.0%, in transport and storage sector – 4.1%, as well as in energy and mining – 4.2%.

In Q2 2015 the highest hourly labour costs were registered in financial and insurance activities (EUR 15.74), in information and communication sector (EUR 11.21), in energy (EUR 10.45), and in public administration (EUR 9.13). In turn, the lowest hourly labour costs were recorded in accommodation and food service activities (EUR 4.72) and in other service activities (EUR 5.30), in arts, entertainment and recreation (EUR 6.07), in trade (EUR 6.16), in administrative and support service activities (EUR 6.18), as well as in education (EUR 6.22).

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