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BUCHAREST (Romania), December 5 (SeeNews) – Romania's hourly labour costs rose by 16.57% year-on-year in the third quarter of 2017 and were 2.9% higher over the second quarter, the statistical board, INS, announced on Tuesday.
On an annual comparison basis, the hourly labour costs increased in all sectors of economic activity in the third quarter of 2017.
The highest increases of the hourly labour cost in the third quarter compared to the same period in 2016 were observed in arts, entertainment and recreation - by 38.76%, in health and social work activities - by 32.48%, in education - by 30.91% and in public administration - by 29.57%, INS said in a statement citing working day-adjusted data.
The lowest increase were registered in mining and quarrying and in electricity, gas, steam and air conditioning supply - by 3.92% each.
As against the previous quarter, the highest increases in hourly labour costs in the third quarter of 2017 were observed in education - by 24.52%, determined by the working time reduction, due to the school holidays, in public administration - by 9.79% and in arts, entertainment and recreation - by 6.49%.
The only sector to register a decline in labour costs in the third quarter of the year, of 4.64%, as compared to the previous quarter was financial and insurance.
Romania's hourly labour costs rose by 18.57% year-on-year in the second quarter of 2017 and were 6.63% higher over the first quarter.
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